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acceptance of a bill of exchange

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Process by which a buyer (called a 'drawee') accepts the seller's bill of exchange by signing under the words 'accepted' on face of the bill. By this act, the drawee becomes the acceptor and converts the bill into a post-dated check an unconditional obligation to pay it on or before its maturity date.
  • ex works

  • letter of credi...

  • consignee

  • cost and freigh...

  • free on board (...

  • landed cost

  • bill of lading...

  • trade liberaliz...

  • credit

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