Bill of Exchange(B/E)/ (Draft)

An unconditional order in writing, addressed by one person (the drawer) to another (the drawee), signed by the person giving it (the drawer), requiring the person to whom it is addressed (the drawee, who when he signs becomes the acceptor) to pay on demand or at a fixed or determinable future time a specified sum certain in money to the drawer or to a third party specified by the drawer, or to the order of, a specified person or to bearer (the payee). Widely used to finance trade and, when discounted with a financial institution, to obtain credit.