Bill of Exchange (BoE) is a written document that obligates one party to pay a fixed amount of money to another party at a predetermined future date. Essentially, it’s a written promise to pay money, and that promise can be passed on to someone else who can then collect the payment. Typically, a BoE includes details like payment amount, due date, and parties involved.
Bills of exchange started to go out of fashion because paper got in the way. But with digital Bills of Exchange (dBE), they’re back — already used by J.P. Morgan, Mercore, and KORAB, who turned a process that once took a month into one completed in minutes. Most recently, MCB and ETG completed Africa’s first electronic Bill of Exchange under Mauritian law — five eBoEs issued and transferred in under an hour, work that would traditionally take days by courier.
Learn more about how a dBE works, or see the full picture on our Bill of Exchange use case page.
Want to hear it from the people doing the transactions?
Watch “Bills of exchange, reinvented” — our most popular webinar yet, with speakers J.P. Morgan, Lloyds, Mercore, and Matalan.