The bill of exchange accompanying the above documents is known as the ___ .

Documentary bill of exchange

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Bill of exchange

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Sight draft

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Usance draft.

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Solution

The correct option is A
Documentary bill of exchange

The bill of exchange accompanying the above documents is known as the documentary bill of exchange. There are two types: sight draft and usance draft.

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Similar questions

The document containing the guarantee of a bank to honour drafts drawn on it by an exporter is

(a) Letter of hypothetication

(b) Letter of credit

(d) Bill of exchange

Bill of exchange is a document for payment to be received from the exporter.

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