Discuss (c) standby credit

The instrument: the negotiable ORDER — the drawer's unconditional order in writing to the drawee to pay the payee (or order, or bearer) a sum certain, on demand or at a fixed time (the three parties' design: drawer, drawee, payee). The ACCEPTANCE (the drawee's signed commitment — the acceptor's primary liability); the NEGOTIATION (the endorsement's transfer — the holder in due course's protection); the PAYMENT. The trade's uses: The payment's term: the credit sale's settlement instrument (the time bill — the usance world); The documentary collection: the bill (or the documents alone) released to the buyer against PAYMENT (D/P) or against ACCEPTANCE (D/A) — the banks as the handling channel, NOT the payers (the collection's risk stays with the seller — the credit's contrast below); The discounting: the banker's purchase of the bill before maturity — the seller's liquidity. The law: the negotiable-instruments family (the Bills of Exchange Act 1882's lore; Nepal's Negotiable Instruments Act 2034's own world — the domestic instrument's regime).