Define Acceptnace in Banking

This is drawee? acknowledgement of the LIABILITY on a BILL OF EXCHANGE, in writing on the instrument itself. A bill may also bear the co-acceptance by a bank, which is a guarantee to honour the instrument in the event of default by the drawee.

Enter your email address:

We will be happy to hear your thoughts

      Leave a reply

      AskBanking - Banking FAQs & Support Blog