Bill Facility

A Bank Bill is an unconditional written order by one party addressed to a Bank to pay a fixed sum - the bill's face value - at a fixed time to the Bank.

A Bank Bill is a 'bill of exchange'. A 'bill of exchange' is a negotiable instrument on which the name of a bank appears either as acceptor or endorser. Where the bank is the acceptor, the bill ranks as a bank accepted bill. Where the bank has endorsed the bill on the back, either through buying the bill in the market or for a fee to raise the bill's status, it ranks as a bank endorsed bill.

Bank Bill facilities are generally provided for a set term. The term of the Bill will be renegotiated by drawing a fresh Bank Bill for an agreed number of days at each rollover. Bank bills offer a range of repayment options and provide your business with the tools to manage interest rate risk.