accepting bank
Definition
Bank which accepts a bill of exchange by countersigning (endorsing) it, and thus incurs the legal obligation of paying the bill's amount on its maturity date. See also advising bank.
accepting bank is in the Banking, Commerce & Finance and International Trade & Relations subjects.
accepting bank appears in the definitions of the following terms: acceptance fee, advising bank, letter of hypothecation, irrevocable letter of credit (L/C), confirmed irrevocable letter of credit (L/C) and letter of credit (L/C)
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