A Bill of Exchange is an unconditional order in writing, addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay on demand or at a fixed or determinable future time a sum certain in money to or to the order of a specified person, or to bearer. The Bill of Exchange performs many functions in international trade including: • Facilitates the granting of trade credit in a legal format by permitting payments on agreed future dates. • Provides formal evidence of the demand for payment from a seller to a buyer. • Provides the seller with access to finance by permitting them to transfer their debts to a bank or other financier by merely endorsing the Bill of Exchange to that bank or financier. • Permits the banker or financier to retain a valid legal claim on both the buyer and the seller. In certain circumstances a bank or financier may have a stronger legal claim under a Bill than the party that sold them the debt. • Permits a seller to obtain greater security over the payment by enabling a bank to guarantee a drawee's acceptance (guarantee to pay on the due date) by signing or endorsing the Bill. • Allows a seller protect their access to the legal system in the event of problems, while providing easier access to that legal system.