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English definition of “discounted bill”

discounted bill

noun [C]     FINANCE
a bill of exchange that can be sold before its payment date at a price that is lower than its value , so investors will get a profit when the bill is paid on its payment date : A bank will pay cash for a discounted bill , but not the full face value .
(Definition of discounted bill noun from the Cambridge Business English Dictionary © Cambridge University Press)
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