Format of Bill of Exchange ( Easily Explained )
In this article, you will discover the format of the bill of exchange.
Content of format of bill of exchange
The date on which the bill has been drawn must be written at the top right-hand corner below the address of the drawer. The date of the bill is essential for the calculation of the maturity date. A bill without a date has no meaning.
The term of the bill must be specified in months or in days.
The amount of bill in figures should be specified below the stamp and the amount in words must be specified in the body of the bill.
Stamp of proper value according to Indian stamp ACT,1889 should be attached.