Banker's acceptance

From ACT Wiki
Revision as of 16:51, 13 August 2014 by Doug Williamson (Talk | contribs) (Added space before see also)

(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)
Jump to: navigation, search


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