accommodation bill |
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Definition
Bill of exchange endorsed by a reputable third party (called an accommodation party or accommodation endorser) acting as a guarantor, as a favor and without compensation. The bill then can be discounted on the financial strength of the guarantor who remains liable until the bill is paid. Also called accommodation note, accommodation paper, or (in the UK) windbill.
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accommodation bill is in the Banking, Commerce & Finance and International Trade & Relations subjects.
accommodation bill appears in the definitions of the following terms: accommodation note and accommodation paper
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