A Usance Bill when presented for acceptance has to be accepted/dishonoured within:

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	24 hours
B	36 hours
C	48 hours
D	60 hours

Explanation:

Detailed explanation-1: -usance bill. noun [ C ] us. COMMERCE. in international trade, a bill of exchange that must be paid after a particular period of time.

Detailed explanation-2: -In simple terms, the acceptance of a bill of exchange is a guarantee of payment extended by the drawee towards the order of the drawer. Acceptance is vital because without it, the drawee of the bill is under no legal liability to make the payment on any bill addressed to him.

Detailed explanation-3: -Usance bills are also known as Time bills.

Detailed explanation-4: -Usance Bill Purchased-Usance Clean or Documentary bills are bills payable on due date after expiry of the usance period drawn on drawees/payees against which immediate credit is given to your business account less interest for the usance period, handling charges, postage etc.

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