acceptance credit

noun

Definition of acceptance credit

: an authorization given by a bank to a specified beneficiary to draw drafts upon the bank up to a specified amount

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First Known Use of acceptance credit

1869, in the meaning defined above

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The first known use of acceptance credit was in 1869

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Cite this Entry

“Acceptance credit.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/acceptance%20credit. Accessed 30 May. 2020.

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