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TeachMeFinance.com - explain Re-exchange historic definition... Re-exchange -- When a bill of exchange is dishonored by the drawee (the one upon whom it is drawn) and is paid by another party for the honor of (for the account of) the drawer the party paying it draws for the amount of it, together with the protest fee and other charges, upon the drawer. This operation is called re-exchange. 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.