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FrançaisThe act of formally acknowledging a debt by signing a financial instrument called a draft. When done by a non-bank party, a trade acceptance is created. When done by a bank, a banker´s acceptance is created. See banker´s acceptance.
Read MoreAcceptance date
The date on which a draft was signed. For drafts drawn at “X days from sight”, the acceptance dates begins the time period toward maturity.
Read MoreAcceptance letter of credit
A letter of credit, which requires, amongst the documents stipulated, provision of a term bill of exchange. The bill is then generally accepted by the bank on which it is drawn or discount. The practical result is that the beneficiary…
Read MoreAccepting bank
In a letter of credit, this is the financial institution that executes a banker´s acceptance.
Read MoreAcknowledgement
1. Confirmation of receipt of a purchase order. 2. Confirmation sent by a bank confirming receipt of a collection. ACP Countries. African, Caribbean and Pacific countries is a group of countries with preferential trading relations with the EU under the…
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