Meaning of “discounted bill” in the English Dictionary

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"discounted bill" in Business English

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discounted billnoun [ C ]

uk us 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” from the Cambridge Business English Dictionary © Cambridge University Press)