Bankers' acceptance

Bankers acceptance,

Definition of Bankers acceptance:

  1. Countersigning (endorsement) of a bill of exchange by the buyers (or importers) bank. Bankers acceptance establishes that payment of the bill on its maturity date is now guaranteed by the endorsing bank. Banks agree to countersign a bill of exchange when they are comfortable with the buyers financial strength and stability, and on payment of the acceptance fee.

How to use Bankers acceptance in a sentence?

  1. The bankers acceptance was sufficient to proceed with the project as the deal was being finalized in every meaningful way.
  2. I was really glad and then my daughter told me that I needed to get a bankers acceptance as well and then I became upset because I did not wanna go to the bank.
  3. If you have a good reputation with a bank then they may be willing to take on a bankers acceptance on your behalf.

Meaning of Bankers acceptance & Bankers acceptance Definition