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TeachMeFinance.com - explain Long bill historic definition... Long bill -- Same as long-dated bill ; a bill of foreign exchange (draft) Having a long time to run. A bill running- for 60 days or more is usually termed a long bill or a long-dated bill. A long bill of exchange is sold at a lower price than a short or demand bill because the buyer loses the use of his money, which is the same as saying he loses interest on his money, until the bill falls due. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2007 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.