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backed billnoun [C]

uk   us  
BANKING, FINANCE a ​type of bill of ​exchange (= written promise to ​pay a ​debt) in which a ​bankagrees to ​pay a ​debt if the ​person or ​organizationborrowing the ​money is unable to ​pay it
(Definition of backed bill from the Cambridge Business English Dictionary © Cambridge University Press)
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