B/E

B/E is an abbreviation that is used in various contexts in trade and logistics. It stands for “Bill of Entry” on the one hand and “Bill of Exchange” on the other.

  1. Bill of Entry (B/E): A Bill of Entry is a document used by customs authorities to declare and register imports. It contains detailed information about the imported goods, such as their description, quantity, value, country of origin and customs tariff number. The B/E is submitted by importers or their representatives and is required for customs clearance and the calculation of customs and import duties.
  2. Bill of Exchange (B/E): A Bill of Exchange is a negotiable financial instrument that represents a written instruction from the issuer to the drawee to pay a specified sum of money at a specified time. It acts as a promise to pay and is often used in international trade transactions to facilitate payments between different parties. The B/E can be used as a means of payment or to finance trade transactions.

Both types of B/E play an important role in international trade and logistics, with the Bill of Entry documenting the legal importation of goods and the Bill of Exchange regulating the financial aspect of trade transactions.