Difference between revisions of "Banker's acceptance"

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A draft accepted by a bank constitutes an unconditional and binding obligation on the part of the bank to pay the draft at maturity.
 
A draft accepted by a bank constitutes an unconditional and binding obligation on the part of the bank to pay the draft at maturity.
  
== See also ==
+
== See also
 +
==
 
* [[Acceptance]]
 
* [[Acceptance]]
 
* [[Bill of exchange]]
 
* [[Bill of exchange]]

Revision as of 16:50, 13 August 2014

(BA).

A bill of exchange (draft) which has been accepted by a bank.

A draft accepted by a bank constitutes an unconditional and binding obligation on the part of the bank to pay the draft at maturity.

== See also

==