Saved Bookmarks
| 1. |
What do you mean by ‘Retiring of Bill’? |
|
Answer» The acceptor can pay the amount of the bill before its due date. The process of paying the amount of the bills payable before the due date is called retiring the bill. In such case, the holder usually allows some discount to the acceptor of bill. Such a discount is called “rebate on retired bill”. The amount of rebate depends on the period that the bill has yet to run. |
|