Introduction to Bills

This user guide is intended to assist the user through the steps involved in processing bills of exchange in the Jordan Model Bank.

The audience of bills are:

• Business analysts.
• Banking staff in banks and IT administrators for parameters.

Bills of exchange are financial instruments, which guarantees the payment of money unconditionally, from one party to another, either on demand or at a future date. The payee of the bill is usually also referred to as drawee and the issuer of a bill of exchange is known as the drawer. Such instruments usually emerge from domestic or international sale and purchase transactions between two parties: a buyer or exporter and a seller or importer.