Definition

Acceptor

Acceptor is the person who accepts a Bill of Exchange drawn on him/her.

Until he accepts it, he is called the drawee. By accepting the bill, the acceptor undertakes to pay the person presenting the bill, the face value of the bill.

Webster Dictionary Meaning

1. Acceptor
- One who accepts
- one who accepts an order or a bill of exchange; a drawee after he has accepted.
Share it:  Cite

More from this Section

  • Fair Credit Reporting Act
    Fair Credit Reporting Act is the law that authorized U.S. consumers to review their credit ...
  • Shell branches
    Shell branches is the booking offices located offshore from the United States that record ...
  • ROE
    ROE is the return on equity capital invested in a bank by its stockholders, measured by ...
  • Relative Form of PPP
    The Relative form of PPP accounts for the possibility of market imperfections such as ...
  • Operating instrument
    Operating instrument is a variable that is very responsive to the central bank’s tools ...