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A banker's acceptance, or BA, is a promised future payment, or time draft, which is accepted and guaranteed by a bank and drawn on a deposit at the bank. The banker's acceptance specifies the amount of money, the date, and the person to which the payment is due. After acceptance, the draft becomes an unconditional liability of the bank. But the holder of the draft can sell (exchange) it for cash at a discount to a buyer who is willing to wait until the maturity date for the funds in the deposit.
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|WordNet 2.0 Dictionary||Download this dictionary|
1. banking: a time draft drawn on and accepted by a bank
(hypernym) draft, bill of exchange, order of payment
|Campbell R. Harvey's Hypertextual Finance Dictionary||Download this dictionary|
A short-term credit investment created by a non-financial firm and guaranteed by a bank as to payment. Acceptances are traded at discounts to face value in the secondary market. These instruments have been a popular investment for money market funds. They are commonly used in international transactions.
|Raynet Business | Marketing Dictionary||Download this dictionary|
a draft drawn on and accepted by a bank. Depending on the bank's credit worthiness, the acceptance becomes a financial instrument which can be discounted.
Copyright © 2001, Ray Wright
|The Lectric Law Library Dictionary||Download this dictionary|
A short term credit instrument consisting of a bill of exchange draft, payable at maturity, which is drawn by a creditor against his or her debtor. A banker's acceptance is often used by persons in international trade and may be sold on market at a discount.
Courtesy of the 'Lectric Law Library.
| Banker's Acceptance in Italian | Banker's Acceptance in Polish | Banker's Acceptance in Catalan | Banker's Acceptance in Farsi
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