List and Briefly Describe Each Function in the Value Chain

question 169

Essay

List and briefly describe each function in the value chain.Provide an example for each of the value chain functions identified.

---

Definitions:

Negotiable

Capable of being transferred from one person to another through endorsement or delivery, often used in the context of negotiable instruments like checks.

Promise

A promise or guarantee to take a specific action or ensure a certain outcome.

Order To Pay

A directive, usually legal or financial in nature, mandating that a certain amount of money must be paid.

Drawer

The person who writes or issues a bill of exchange, check, or draft, instructing a drawee to pay a specified sum to a payee.