banker's acceptance

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Definitions from WordNet

Noun banker's acceptance has 1 sense

acceptance, banker's acceptance - banking: a time draft drawn on and accepted by a bank
--₁ is a kind of draft, bill of exchange, order of payment

Definitions from the Web

Banker's Acceptance

Description:

A banker's acceptance is a legal and negotiable instrument that represents a bank's unconditional promise to pay a specified amount to the holder at a future date. It is typically used in international trade transactions as a means of guaranteeing payment to the exporter.

Sample Sentences:

After negotiating the terms, the exporter obtained a banker's acceptance from the buyer's bank.
As a secure form of payment, the seller requested a banker's acceptance to ensure timely transactions.
The banker's acceptance ensured the importer that the payment would be made at the agreed maturity date.

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