Trade acceptance


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Trade acceptance

Written demand that has been accepted by an industrial company to pay a given sum at a future date. Related: Banker's acceptance.

Trade Acceptance

A bill of exchange that has not been countersigned by the drawee's bank. A trade acceptance is presented as payment for a good or service. It is only as valuable as the drawee's creditworthiness. It is also called an accepted bill of exchange, an accepted draft, or a trade bill.
References in periodicals archive ?
At the inception of the Federal Reserve in 1913, it was presumed that Federal Reserve assets would primarily consist of short-term privately issued paper, such as bankers' acceptances, trade acceptances, and bills of exchange.
The underlying receivable has been converted into a Trade Acceptance Draft.
Gillette stated that all the pieces are coming together, as it has the ongoing strength of its existing products and great trade acceptance of its new products; increased manufacturing productivity and cost savings; and high growth in key international markets.
Actrade" or the "Company") announced today that, effective immediately, Actrade and all of its subsidiaries will cease writing any new business and will not issue new Trade Acceptance Drafts.
This facility is in addition to the company's trade acceptance facility with AcTrade Financial Technologies, LTD.
In particular, the US lacked a liquid market in trade acceptances, the instrument used to finance imports and exports.
The first stage of the test will include transmitting messages related to account openings, trade authorizations, trade acceptances and rejections, restrictions, terminations, deposits, withdrawals and trade activity between UBS and their IMs.
One of the heavy hindrances in former years lay in the lack of a market for foreign trade acceptances in the United States such as exists in all the Western and Central European countries.