Documentary bill for acceptance. A time draft (bill of exchange) drawn on the receiver or
consignee of a shipment of property and accompanied by documents. The documents, comprising
the bill of lading, policy of insurance, etc., are attached to the draft and are surrendered on the
acceptance of the draft by the consignee so that the consignee may at once obtain possession of
the property instead of waiting until actual payment of the bill is made.
consignee of a shipment of property and accompanied by documents. The documents, comprising
the bill of lading, policy of insurance, etc., are attached to the draft and are surrendered on the
acceptance of the draft by the consignee so that the consignee may at once obtain possession of
the property instead of waiting until actual payment of the bill is made.
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