Meaning of “eligible bill” in the English Dictionary

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"eligible bill" in Business English

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eligible billnoun [ C ]

uk us BANKING

in the UK, a bill of exchange (= document ordering payment for goods or services) that a bank approved by the Bank of England has accepted, and which the Bank of England has agreed to buy immediately:

Eligible bills are virtually risk free since the Bank guarantees to buy all that are offered.

(Definition of “eligible bill” from the Cambridge Business English Dictionary © Cambridge University Press)