Bank Acceptance

Bank Acceptance in International Trade

Meaning of Bank Acceptance, according to the Dictionary of International Trade (Global Negotiator): A draft accepted by a bank usually for the purpose of financing the sale of goods to or by the bank's customer. The bill may be drawn , for example, by an exporter on the importer's bank and be sold on the open market at a discount. See bill of exchange. Depending on the bank's creditworthiness, the acceptance becomes a financial instrument that can be discounted for immediate payment. See bill of exchange.