banker's acceptance

noun

Definition of banker's acceptance

: a short-term credit instrument issued by an importer's bank that guarantees payment of an exporter's invoice

First Known Use of banker's acceptance

1813, in the meaning defined above

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Time Traveler for banker's acceptance

Time Traveler

The first known use of banker's acceptance was in 1813

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Cite this Entry

“Banker's acceptance.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/banker%27s%20acceptance. Accessed 25 Sep. 2020.

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More Definitions for banker's acceptance

banker's acceptance

noun

Legal Definition of banker's acceptance

: a short-term credit instrument issued by an importer's bank that guarantees payment of an exporter's invoice

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