Acceptance: Contractual agreement instigated when the drawee of a time draft 'accepts' the draft by writing the word 'accepted' thereon. The drawee assumes responsibility as the acceptor and for payment at maturity. See: Letter of credit and banker's acceptance.

 

Related Words

Acceptance: An acceptance is a promise by the offeree to be bound by the exact terms proposed by the offeror. The acceptance must be communicated to the offeror.

Conditional Acceptance-Admission: Acceptance letter offering a place in a university or college program to an academically qualified student, subject to meeting a specified condition (often completion of English language stu . . . View Full Definition

Bankers Acceptance: A short-term credit investment created by a nonfinancial firm and guaranteed by a bank as to payment. Acceptances are traded at discounts to face value in the secondary market. These instrum . . . View Full Definition

Application-Acceptance-Admission: The process by which a prospective student submits the required forms and credentials to his/her chosen institution. Application criteria may include one or more of the following: previous a . . . View Full Definition

Trade Acceptance: An oral (or electronic) transaction involving one party buying a security from another party. Once a trade is consummated, it is considered 'done' or final. Settlement occurs 1-5 business days later.

Acceptance Angle: See angle of view.

Offer And Acceptance: Two essential components of a valid contract, a meeting of the minds.

Eligible Bankers Acceptances: An index based on the average yield of 11 municipal bonds that mature in 20 years and carry an average AA rating. The eleven bonds used to calculate the index are also found in the 20 bond i . . . View Full Definition

Early Admission: Acceptance into a postsecondary institution before completion of Secondary school or acceptance before the regular admission date. Admission standards are usually higher for early acceptance.

Transaction Demand (For Money): The delivery of a security by a seller and its acceptance by the buyer.