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What are eBills?

eBills as Promissory Notes are a financial instrument representing a digital commitment by the issuer to pay a certain amount on a certain date in the future, functioning the same way as traditional paper promissory notes but as an electronic record.

Here’s how they work

An eBills transaction can be agreed on the Munix Platform the same way as Cash Deposits and operate through a secure,
digital process where the borrower electronically commits to pay a specified amount by an agreed-upon date, the maturity date.
This streamlined approach enhances efficiency and traceability, offering a modern alternative to traditional paper promissory notes.
eBills merge the trusted reliability of promissory notes with the convenience and precision of digital records.

Digital Format

eBills as promissory notes are fully electronic, making them quicker to create, send, and track than paper versions.

Legally Binding

eBills hold the same legal enforceability as traditional promissory notes, grounded in the Bill of Exchange Act 1882 and now reinforced by the Electronic Trade Document Act 2023, which grants digital trade documents in form of electronic records the same legal status as paper ones.

Trading

eBills are electronically tradeable and negotiable financial instruments that the holder can sell and transfer to a third party.

Future Dating

eBills can be scheduled to be issued on specific dates, aiding cash flow planning and ensuring timely fulfillment.

Tracking

eBills offer status updates on issuance, acceptance, transfer and payment, hence improving record-keeping.

Secured

eBills are securely held in the holder’s account, to the holder’s order, in compliance with ISO 27001 Information Security Management System (ISMS) standards.
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