acceptance

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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.

Banker's Acceptance

Short-term debt obligations that are secured by banks. That is, a bank promises to pay a creditor if a borrower defaults. It is also called a documented discount note.

acceptance

acceptance

see CONTRACT.

acceptance

the process of guaranteeing a loan, which takes the form of a BILL OF EXCHANGE that will be repaid even if the original borrower is unable to pay. This is done by a commercial institution which signs, that it ‘accepts’, the bill drawn up by the borrower in return for a fee. See ACCEPTING HOUSE.

acceptance

(1) The act of receiving something with the intention of retaining it.Transfer of title to real estate requires acceptance of the title.(One cannot secretly deed a toxic waste site to an enemy in hopes that the Environmental Protection Agency will make that person handle the cleanup.) (2) The act of agreeing to the terms and conditions of an offer,creating a contract by virtue of the acceptance.

References in periodicals archive ?
The third declaration will be taken on Monday, October 5, one week before the final acceptances.
The request by the contractor to proceed with the provisional / final acceptance serves as a request for release of the first / second half of the bond.
Reid, president and chief executive officer of Ibis Technology Corporation, said, "We are pleased that the SUMCO implanter has completed the final acceptance process.
for lot 10 - 24 months from the date of final acceptance protocol.
OTC Bulletin Board CCMS; CDNX: CHP) (the "Company") announced today the final acceptance and payment for the SkyLink(TM) Low Density Wireless Local Loop (LD-WLL) System contract between Champion Wireless Solutions (Vietnam) Limited, an indirect subsidiary of Champion Communication Services, Inc.
Navy Space and Naval Warfare Systems Command (SPAWAR) has given final acceptance to the first production unit of Cubic's Communications Data Link System (CDLS).
Contract award: preparation of design documentation: building and executive, the organization carrying out the investment, bills of quantities, cost estimates investor, stwior together with any necessary arrangements for the construction of main 110/6 kv and dismantling of the existing 110/6 kv substation in the central wastewater treatment plant as part kozieglowy task: "something - modernization of the main supply point" and the author~s supervision during the implementation phase of works carried out on the basis of documentation which is the subject of the contract from the date of the contract with the contractor works to signing the final acceptance of the works.
Summary: Pharmexa has received final acceptance of its patent application regarding the DNA AutoVac(TM) technology in Europe.
Final acceptance will be issued once all equipment has been fully rigged up and properly tested on the Corvina platform.