time bill vs bill of exchange

time bill and bill of exchange both are nouns.

Word	Noun	Adjective	Verb	Adverb
time bill	Yes	No	No	No
bill of exchange	Yes	No	No	No

As nouns, bill of exchange is a hypernym of time bill; that is, bill of exchange is a word with a broader meaning than time bill:

time bill: a draft payable at a specified future date
bill of exchange: a document ordering the payment of money; drawn by one person or bank on another

Other hypernyms of time bill include draft, order of payment.

time bill (noun)	bill of exchange (noun)
a draft payable at a specified future date	a document ordering the payment of money; drawn by one person or bank on another