Commercial bill definition
Commercial bill means a short-term debt security issued by a joint stock company or limited partnership by shares binding the issuer thereof to pay the owner thereof the nominal value on a fixed maturity date and the interest thereon. A commercial bill may have a fixed or floating interest rate, or may be a zero-coupon;
Examples of Commercial bill in a sentence
Bills paid in arrears may not become delinquent sooner than 30 Days after presentment, unless City accepts an earlier date (for example, if the Commercial bill for January services is dated January 31, the bill would be delinquent after February 28).