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1、外文翻译原文CommercialBillsMaterialSource：http://www．citeman．com/4356-commercial-bills/Author：RamaRaoTheworkingcapitalrequirementofbusinessfirmsisprovidedbybanksthroughcash-creditsoverdraftandpurchasediscountingofcommercialbills．Commercialbillisashortterm,
2、negotiable,andself-liquidatinginstrumentwithlowrisk．Itenhancesheliabilitytomakepaymentinafixeddatewhengoodsareboughtoncredit．AccordingtotheIndianNegotiableInstrumentsAct,1881,billorexchangeisawritteninstrumentcontaininganunconditionalorder,signedbyth
3、emaker,directingtopayacertainamountofmoneyonlytoaparticularperson,ortothebeareroftheinstrument．Billsofexchangearenegotiableinstrumentsdrawnbytheseller(drawer)onthebuyer(drawee)orthevalueofthegoodsdeliveredtohim．Suchbillsarecalledtradebills．Whentradeb
4、illsareacceptedbycommercialbanks,theyarecalledcommercialbills．Thebankdiscountthisbillbykeepingacertainmarginandcreditstheproceeds．Banks,wheninneedofmoney,canalsogetsuchbillsrediscountedbyfinancialinstitutionssuchasLIC,UTI,GIC,ICICIandIRBI．Thematurity
5、periodofthebillsvariesfrom30days,60daysor90days,dependingonthecreditextendedintheindustry．TypesofCommercialBills:Commercialbillisanimportanttoolfinancecreditsales．Itmaybeademandbillorausancebill．Ademandbillispayableondemand,thatisimmediatelyatsightor
6、onpresentationbythedrawee．Ausancebillispayableafteraspecifiedtime．Ifthesellerwishestogivesometimeforpayment,thebillwouldbepayableatafuturedate．Thesebillscaneitherbecleanbillsordocumentarybills．Inacleanbill,documentsareenclosedanddeliveredagainstaccep
7、tancebydrawee,afterwhichitbecomesclear．Inthecaseofadocumentarybill,documentsaredeliveredagainstpaymentacceptedbythedraweeanddocumentsofbillarefiledbybankerstillthebillispaid．Commercialbillscanbeinlandbillsorforeignbills．Inlandbillsmustbedrawnormadein
8、IndiaandmustbepayableinIndia:ordrawnuponanypersonresidentinIndia．Foreignbills,ontheotherhand,aredrawnoutsideIndiaandmaybepayableandbyapartyoutsideIndia,ormaybepayableinIndiaordrawnonapartyinIndiaoritmaybedrawninIndiaandmadepayableoutsideIndia．Arelate
