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 ?
Following that, a series of post-dated payment drafts ("trade acceptances") are signed by the co-op and forwarded to the contractor ("seller").
The concept of the Trade Acceptance Draft has existed in Europe for years.
The underlying receivable has been converted into a Trade Acceptance Draft.
Products will be judged on their novel use of nonwoven technology, as well as on their consumer and trade acceptance. Eligible consumer product categories include disposable diapers, feminine hygiene products, adult incontinence products, household wipes and home filters, among others.
Products will be judged on their novel use of nonwovens technology, as well as on their consumer and trade acceptance. Eligible consumer product categories include disposable diapers, feminine hygiene products, adult incontinence products, household wipes and home filters, among others.
In particular, the US lacked a liquid market in trade acceptances, the instrument used to finance imports and exports.
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.