Asked

price. The price asked for a thing. For additional information see Bid and asked. As per advice. A term frequently used in a bill of exchange, meaning that notice has been given (or is to be given) to the drawee (the one who is to pay the bill) that the bill has been drawn upon him. As per indorsement. Occasionally when a foreign bill of exchange is drawn in the money of the country where it originates but is payable in another country it is made payable “as per indorsement’’—that is, it is payable in the money of the second country at the rate of exchange indorsed on the bill. Example: If a person in New York draws on a person in London for $25,000 the rate at which it is to be paid in pounds sterling is indorsed on it. Thus, if payable at $4.86 per pound each pound counts as $4.86 in paying the bill.