Renewal of bill case 6 .bill of exchange, in Urdu and hindi
Автор: M Majid
Загружено: 2020-06-02
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Renewal of Bill
Sometimes, it may so happen that the drawee realizes that he will be unable to pay the amount of bill to the drawer on the maturity date. In this case, he may request the drawer to cancel the old bill. When the drawer agrees to it, he cancels the old bill and draws a new bill along with the amount of interest on the drawee. This process is known as Renewal of Bill.
Renewal of Bill
The drawee may pay some amount of the old bill in cash and accept the new or fresh bill for the balance amount.
Also, he has an option to either pay the amount of interest on the new bill in cash or include the amount of interest in the bill.
Thus, the amount of new bill = Amount of old bill – cash paid + interest amount.
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#billofexchange
#accountinginurduhindi
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