trade acceptance

noun

1. a bill of exchange drawn by the seller of goods on the buyer, and accepted by the buyer for payment at a future date.

Word History and Origins

Origin of trade acceptance¹

First recorded in 1915–20

Example Sentences

Banks have countered in industry meetings and interviews by saying that trading and clearing technology needed time to develop and that certain documentation and systems are needed to ensure trade acceptance by clearinghouses.

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This activity is now carried on by the commercial banker, who handles trade acceptances, bills of exchange, and the like.

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