time bill vs order of payment

time bill and order of payment both are nouns.

Word	Noun	Adjective	Verb	Adverb
time bill	Yes	No	No	No
order of payment	Yes	No	No	No

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

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

Other hypernyms of time bill include bill of exchange, draft.

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