What are bills of exchange used for?

Bills of exchange can be used for a variety of purposes, but they are most commonly used in international trade.

For example, a bill of exchange (BOE) may be used to make payments for goods or services that have been shipped from one country to another. The BOE would typically be drawn up by the party selling the goods or services (the exporter) and would be payable by the party buying the goods or services (the importer).

They can also be used by startups and small businesses to get funding from investors. In this case, it would be drawn up by the company and would be payable by the investor.