What is an inland bill?
An inland bill of exchange is a financial document used for domestic trade. Which means buying and selling within the same country.
Think of it as a promise of payment that keeps local deals secure and transparent. Just like how an international bill of exchange protects cross-border trades, an inland bill gives SMEs confidence when trading domestically.
Key points:
Domestic only: Both counterparties are in the same country.
Legal recognition: It’s fully enforceable under the Bills of Exchange Act 1882 in the UK.
Purpose: It guarantees that a seller will get paid and a buyer will only pay under the agreed terms.
Extra flexibility in Boex: Our inland bill includes a new “Referee” section which is a trusted third party who can help validate or confirm details, adding an extra layer of assurance.
In short: An inland bill is your domestic safety net, ensuring smoother trade, stronger trust, and less risk when trading locally.
Trading domestically with Boex (inland bills):
Trading with a counterparty in the same country? That’s where an inland bill comes in. Getting started is simple:
From your Boex home screen, head to the Start a trade section at the top.
Click Start a trade.
On the next screen, choose whether your deal is International or Domestic (Inland).
Select Domestic, hit Create, and you’re on your way.
With just a few clicks, you can set up a secure, compliant inland bill, perfect for keeping local trades simple and trusted.
Viewing your inland bills
Need to check a domestic (inland) bill you’ve created before? Easy.
Head over to the Trades section in the left-hand menu.
At the top, you’ll see two options: International and Domestic.
Select Domestic, and your inland bills will be listed there.
Don’t see any yet? Hit the blue Create Inland Bill button in the center of your screen to start your first domestic trade.
Need Help?
If you have any further questions about inland bills and how to trade domestically, contact support at [email protected].