Meaning bankers acceptance
What does bankers acceptance mean? Here you find 3 meanings of the word bankers acceptance. You can also add a definition of bankers acceptance yourself
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bankers acceptanceBankers acceptances are negotiable time drafts, or bills of exchange, that have been accepted by a bank that, by accepting, assumes the obligation to pay the holder of the draft the face amount of the [..]
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bankers acceptanceThese are negotiable time drafts, or bills of exchange, that have been accepted by a bank which, by accepting, assumes the obligation to pay the holder of the draft the face amount of the instrument on the maturity date specified. Bankers Acceptance's are generally used to finance the export, import, shipment, or storage of goods.
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bankers acceptanceA time draft that has been accepted by the drawee bank. The drawee bank (accepting bank) stamps the draft “ACCEPTED”, signs and dates the time draft, and in doing so unconditionally undertakes to pay the draft at maturity.
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