DIFFERENT BETWEEN THE TRADE AND ACCOMMODATION BILLS
Before diving into these differences, let us quickly tell ourselves what a trade bill is. A trade bill is a bill of exchange or a document ordering someone to pay a particular amount at a particular time that is used to pay for goods. If the trade bill is accepted, the buyer is getting credit from the seller. Having known this, let us go to the differences * Trade bills are drawn by creditors and accepted by debtors while accommodation bills are not drawn by creditors. * Trade bills are drawn against proper consideration while accommodation bills are drawn without any consideration. * Trade bill is a proof of debts while accommodation bill is not a proof of debts. Investdata Academy https://investdataonline.com