Banker's acceptance: Difference between revisions
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imported>Doug Williamson m (Added space before see also) |
imported>Doug Williamson m (Added space before see also) |
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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
