banker's acceptance

noun

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

Word History

First Known Use

1813, in the meaning defined above

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

Dictionary Entries Near banker's acceptance

Cite this Entry

“Banker's acceptance.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/banker%27s%20acceptance. Accessed 27 May. 2024.

Legal Definition

banker's acceptance

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