trade acceptancetrade acceptance
a bill of exchange or draft drawn upon the purchaser by the seller and accepted by the purchaser for payment at a specified time
A bill of exchange drawn directly upon and accepted by an importer or purchaser, rather than a bank, and due at a specified future time.
(plural trade acceptances)
- (business, banking, finance) A negotiable instrument in the course of international trade similar to a Banker's Acceptance (BA) except it is drawn on and accepted by a buyer/importer (as opposed to a bank). May be sold to a bank or investor at a discount becoming a marketable money-market instrument.