Difference between revisions of "Banker's acceptance"

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(BA).  
 
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A bill of exchange (draft) which has been accepted by a bank.
 
A bill of exchange (draft) which has been accepted by a bank.
  
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* [[Draft]]
 
* [[Draft]]
 
* [[Trade acceptance]]
 
* [[Trade acceptance]]
 
 

Revision as of 18:57, 1 August 2013

(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