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TeachMeFinance.com - explain Value bill historic definition... Value bill -- (of exchange). A draft (bill of exchange) drawn against a consignment of property. For instance, if A in New York ships goods to B in London and draws on B for the value of the goods, attaching the bill of lading, insurance policy, etc., to the draft (bill of exchange), the bill is a value bill. Again, if a banker in New York sells securities to a banker in London and draws on the banker in London for the value of the securities, attaching .the securities to the draft (bill of exchange), the bill is a value bill. See Non-value bill (of 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.