Question

Encashment of the bill before due date. Answer in a word / phrase / term.

Answer 1

DISCOUNTING OF BILL.....

Answer 2

Answer:

Discounting bills of exchange

Explanation:

For a bill of exchange, there is a certain date which is known as due date, on which the payee or the drawee can get the bill drawn from the bank. If the bill of exchange is drawn from the bank before the due date, this is known as discounting of a bill.

There are three parties to the bill of exchange namely, the drawer, the drawee and the payee.