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7 (a) The exact meaning of an international bill of exchange can be derived from the provisions of the United Nations Convention on International Bills Of Exchange and International Promissory Notes. Thus Article 2 of the Convention provides that a bill of exchange is international if it specifies at least two of the following places and indicates that they are situated in different States：

(a) the place where the bill is drawn;

(b) the place indicated next to the signature of the drawer;

(c) the place indicated next to the name of the drawee;

(d) the place indicated next to the name of the payee;

(e) the place of payment.

However， to comply， the place where the bill is drawn， or the place of payment， must be situated in a contracting State.

Article 3 goes on to define a bill of exchange as a written instrument which：

(a) contains an unconditional order whereby the drawer directs the drawee to pay a definite sum of money to the payee or to his order;

(b) is payable on demand or at a definite time;

(c) is dated;

(d) is signed by the drawer.

It is important to note that Article 7 of the Convention provides that the sum payable is deemed to be a definite sum although the instrument states that it is to be paid：

(a) with interest， which may be paid at a fixed or variable rate (Article 8);

(b) by instalments at successive dates;

(c) by instalments at successive dates with a stipulation in the instrument that upon default in payment of any instalment the unpaid balance becomes due;

(d) according to a rate of exchange indicated in the instrument or to be determined as directed by the instrument; or

(e) in a currency other than the currency in which the sum is expressed in the instrument.

Finally it should be noted that the Convention does not apply to international cheques.

(b) Endorsement relates to the way in which international bills of exchange are transferred and in effect it allows the original payee of the instrument to transfer the benefit of it to some other party by signing it.

Article 13 of the UN Convention on International Bills of Exchange and International Promissory notes provides， a bill of exchange is transferred either by：

(a) endorsement and delivery of the instrument by the endorser to the endorsee; or

(b) mere delivery of the instrument if the last endorsement is in blank.