Long bill. Same as long-dated bill; a bill of foreign exchange (draft) having a long time to run. A
bill running for 60 days or more is usually termed a long bill or a long-dated bill. A long bill of
exchange is sold at a lower price than a short or demand bill because the buyer loses the use of
his money, which is the same as saying he loses interest on his money, until the bill falls due.
bill running for 60 days or more is usually termed a long bill or a long-dated bill. A long bill of
exchange is sold at a lower price than a short or demand bill because the buyer loses the use of
his money, which is the same as saying he loses interest on his money, until the bill falls due.
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