Meaning of ACCEPTANCE in English

ACCEPTANCE

Contractual agreement instigated when the drawee of a time draft "accepts" the draft by writing the word "accepted" thereon. The drawee assumes responsibility as the acceptor and for payment at maturity . See: Letter of credit and banker's acceptance .

Campbell R. Harvey. Hypertextual finance English glossary.      Английский словарь гипертекстовых финансов.