for value received
“ For value received ” is a phrase commonly used in a bill of exchange , deed , promissory note , or other contract to indicate the exchange of unspecified consideration . The exchange of consideration is a critical component of any legally binding contract and the use of such boilerplate language in the foregoing contexts reinforces documentation of its exchange. It covers not only payment through money, but also exchange of goods or services. While the phrase “for value received” in itself does not indicate the actual consideration being exchanged, it does signal the completion of a transaction based on the consideration required by the contract.
For example, a service contract may contain language that the payment for the service fee will be completed for value received. This language indicates that payment for the service will be made following the service provider completes the service for the other party in the contract.
[Last reviewed in March of 2025 by the Wex Definitions Team ]
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