BILLS RECEIVABLE Definition

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BILLS RECEIVABLE, in merchant accounts, are all promissory notes, bills of exchange, bonds, and other evidences or securities which a merchant or trader holds, and which are payable to him.

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CAPITAL SURPLUS is an archaic term. See PREMIUM ON CAPITAL STOCK.

REGULAR SETTLEMENT is 1) For short-term or U.S. Trea­sury securities, the settlement, or payment and delivery, is the next business day after the trade date. 2) For cor­porate notes, bonds and municipal securities, settlement is in five business days. 3) For mortgage-backed securities, settlement is after the 15th of the month. 4) For Euro­dollar Certificates of Deposit, settlement is two business days after the trade date. Also known as "Regular Way.'

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