**Maturity of Bill **

Maturity of bill is the date when the bill of exchange becomes due to be paid. To calculate this date, additional three days are added as a period of grace.

### Calculation of Due Date of Bill of Exchange

Due Date of Bill of Exchange is calculated to find the date , on which the payment of the bill of exchange is due. For calculation of due date of bill of exchange, we follow the following steps : –

- Identify the start date i.e, the date on which the Bill of Exchange is drawn ;
- Add the number of days/month after which the bill is due ;
- Add 3 days , as period of grace.

**Calculation of due date of bill of Exchange – Example 1**

A Bill of Exchange was drawn on 1 March 2017 . Term of the Bill was 4 months . The due date of the bill will be________ ?

**Explanation:**

Maturity date of Bill of Exchange will be:

Date of drawing + Tenure + 3 Days Grace Period

1 March 2017 + 4 months + 3 Days Grace Period

04 July 2017

**Calculation of due date of bill of exchange – Example 2**

A Bill of Exchange is drawn on 1 March 2018 . Term of the Bill was 20 days. The due date of bill will be ___________?

**Explanation:**

Due date of Bill will be:

Date of drawing the Bill + Tenure of the Bill + 3 Days Grace Period

1 March 2017 + 20 days + 3 Days Grace Period

**24 March 2018.**

Thus, maturity of bill is the date when the payment of bill becomes due and is calculated by adding Date of drawing + Tenure + 3 Days Grace Period.

## 1 thought on “Calculation of due date of bill of exchange”

What will be maturity date of a bill drawn on 30 April 2017 for 3 months