Acceptance

A contractual agreement on a time draft or sight draft to pay the amount due at a specified date. The party who is expected to pay the draft writes "accepted", or similar wording indicating acceptance, next to his or her signature along with the date. This person then becomes the acceptor, and is obligated to make the payment by the maturity date.

A banker's acceptance is a time draft honored by a bank, and is typically used in international trade. A trade acceptance is a time draft drawn by the seller of goods on a buyer. In a trade acceptance, the buyer is the acceptor.

An acceptance agreement strengthens a time draft by putting the acceptor under contractual obligation to pay. International trade is facilitated by banks enacting banker's acceptances, thereby guaranteeing the payment for goods.


Investment dictionary. . 2012.

Synonyms:

Look at other dictionaries:

  • acceptance — I noun accedence, acceptio, accession, accordance, acknowledgment, acquiescence, adoption, agreement, allowance, approbation, approval, assent, assurance, compliance, comprobatio, concordance, consent, endorsement, ratification, receipt,… …   Law dictionary

  • Acceptance — Ac*cept ance, n. 1. The act of accepting; a receiving what is offered, with approbation, satisfaction, or acquiescence; esp., favorable reception; approval; as, the acceptance of a gift, office, doctrine, etc. [1913 Webster] They shall come up… …   The Collaborative International Dictionary of English

  • Acceptance — Acceptance, in spirituality, mindfulness, and human psychology, usually refers to the experience of a situation without an intention to change that situation. Indeed, acceptance is often suggested when a situation is both disliked and… …   Wikipedia

  • Acceptance — • In canon law, the act by which one receives a thing with approbation or satisfaction Catholic Encyclopedia. Kevin Knight. 2006. Acceptance     Acceptance      …   Catholic encyclopedia

  • acceptance — acceptance, acceptation have both at one time or another carried the meanings: the act or fact of accepting or the state of being accepted. Present usage, however, restricts their denotations. Acceptance only is used to denote the act of… …   New Dictionary of Synonyms

  • acceptance — [ak sep′təns, əksep′təns] n. 1. an accepting or being accepted 2. approving reception; approval; acceptability 3. belief in; assent 4. a draft or bill of exchange that has been accepted for payment: cf. BANKER S ACCEPTANCE, TRADE ACCEPTANCE 5.… …   English World dictionary

  • Acceptance — Episodio de Héroes Episodio nº 3 Temporada 4 Escrito por Bryan Fuller Dirigido por Greg Beeman …   Wikipedia Español

  • acceptance — (n.) 1570s, from M.Fr. acceptance, from accepter (see ACCEPT (Cf. accept)). Earlier in same sense was acceptation (late 14c.) …   Etymology dictionary

  • acceptance — [n1] agreement, taking accepting, acknowledgment, acquiring, admission, approval, assent, compliance, consent, cooperation, gaining, getting, go ahead*, green light*, nod*, obtaining, okay, permission, receipt, receiving, reception, recognition,… …   New thesaurus

  • Acceptance — Allgemeine Informationen Genre(s) Alternative Rock Gründung 1998 Auflösung 2006 Website …   Deutsch Wikipedia

  • acceptance — The act of accepting something, usually a contract. For example, an offer is made to some person that that person buys certain goods for a certain amount of money. If the person to whom the offer is made agrees, then the offer is considered to be …   Glossary of Bankruptcy

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.