Banking Exam Question - What is Bills of Exchange & Letter of Guarantee in Banking? Explain

Introduction - Bills of Exchange &  Letter of Guarantee

Bills of Exchange:

• The exchange letter means that a person signifies the signature of a person by directing another person to any special person written in such letter during the specified date or so long period or asking for such amount, without having to pay so much money to the person who has been sent.
• This is an important exchange certificate.
• The exchange certificate is an important letter.

 Letter of Guarantee:

• It is understood that in the letter written by a person who has written in such a prescribed date or in any letter written in the same letter, a particular person written in that letter or to the person who has been sent or to the person who is given the letter,
• This is an important jurisdiction.
• The authorization is taken as a basic certificate.