Who makes a bill of exchange?

Who exactly is responsible for creating a bill of exchange? Is it the seller of goods or services, the buyer, or a third-party entity? And what are the specific requirements or conditions that need to be met in order for a bill of exchange to be considered valid and enforceable? Could you also elaborate on the process involved in creating a bill of exchange, including any documentation or signatures that are typically required? Additionally, are there any legal or regulatory considerations that must be taken into account when making a bill of exchange?