Bank acceptance

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Bank acceptance, banker's acceptance - a promissory note used to secure payments between two parties through the bank.

It is the paper through which the debtor's bank undertakes to pay a certain amount of money to the creditor. It is used mainly in international trade when the exporter and importer are starting to cooperate. In such a situation, the bank takes over the importer's obligation to the exporter, securing the deposit, which he submits to the importer. Activity confirmation is a security that guarantees the holder to pay a certain amount within a specified period of time. Payment can be made by any entity, so bank acceptance may be traded on the market (the original creditor may sell bank acceptance to another party before the redemption date - usually after a discount).

Bank acceptance is one of the money market instruments. Bibliography

wiki

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