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

  • Property-casualty insurance policies
    Property-casualty insurance policies is the contracts that pledge reimbursement of policyholders ...
  • Capital account
    Capital account is a section of the balance of payments. Under the revised format of the ...
  • Equation of exchange
    Equation of exchange is the equation MV=PY, which relates nominal income to the quantity ...
  • Trade Creditors
    Trade Creditors organisations, which are owed money for goods and services supplied. ...
  • Fronting Loan
    A fronting loan, sometimes is referred to as link financing, is a parent-to-subsidiary ...