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

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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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