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 What are Bills of Exchange? | CMA Foundation When we thought of one of the subjects of CMA Foundation Fundamentals of Accounting , then the bill of exchange seems an important topic to understand. So here in this article we sprinkle on the: All these subtopics will help you in understanding the concept of CMA Foundation Bill of Change of Fundamentals of Accounting. Bill of exchange Meaning Bill of exchange definition Bill of exchange example Features of the bill of exchange Parties of the bill of exchange A bill of exchange is a legally enforceable agreement between two parties to pay a specific sum of money to the other party on a specific date or upon demand. In other terms, it is a written negotiable document that contains an unconditional order from the creator to pay a set sum of money to a specific person or to the bearer of the instrument, as directed in the instrument. The bill of exchange might be paid immediately or after a set length of time.   The bill of exchange is issu