Balance of Payment (BOP) | Meaning, Definition | Components

Balance of Payment (BOP): “A Balance of Payment (BOP) of a country refers to an account that records each monetary transactions between the residents of that country and all other countries during a stipulated period of time. These monetary transactions/ economic transactions can be done by an individual, enterprises, or government of the country”. In … Read more Balance of Payment (BOP) | Meaning, Definition | Components

7 Key Differences Between Bill of Exchange and Promissory Note

Difference between Bill of Exchange and Promissory Note: Although both Bill of exchange and Promissory Note are the negotiable instruments which facilitate the exporter and importer (buyer/ supplier) during a business deal yet there are few key differences which you need to clarify. The major hurdle is the trustworthiness of either party while entering any … Read more 7 Key Differences Between Bill of Exchange and Promissory Note

What is Bill Discounting? Meaning, Advantages | Process

Bill Discounting: The working capital is one of the most significant requirements to operate small or medium business enterprises smoothly. However, it is difficult to arrange or maintain in nowadays’ scenario as the trading of goods or services in domestic as well as international market are done mostly on a credit basis. The intention of … Read more What is Bill Discounting? Meaning, Advantages | Process

What is Bank Guarantee? Meaning, Types | Charges and Process

Bank Guarantee: When the Central Government/ State Government or large companies float a tender or offers to purchase goods/ services/ equipment or any other instruments, the small vendors/ supplier or firms require to provide assurance from banks to ensure responsibility of vendors/ firms towards the tender or trade. The banks provide the guarantee of performance … Read more What is Bank Guarantee? Meaning, Types | Charges and Process

What is Escrow Account? | How does it works? | Meaning and Process

What is Escrow Account? www.thesisbusiness.com When it comes to international trade or large transactions or corporate deals between two parties or individuals where the trustworthiness regarding fulfilment of contractual obligations of any parties or company or individuals is uncertain, there surely arise the requirement of an Escrow Account to avoid or eliminate the risk associated … Read more What is Escrow Account? | How does it works? | Meaning and Process