A banker's acceptance is a negotiable instrument or time draft drawn on and accepted by a bank, which upon acceptance becomes an obligation of the bank and is a marketable money-market instrument.

An importer plans to purchase goods from an exporter. The exporter will not grant credit, so the importer turns to its bank. They execute an acceptance agreement, under which the bank will accept drafts from the importer. In this manner, the bank extends credit to the importer, who agrees to pay the bank the face value of all drafts prior to their maturity. The importer draws a time draft, listing itself as the payee. The bank accepts the draft and discounts it-paying the importer the discounted value of the draft. The importer uses the proceeds to pay the exporter. The bank can then hold the bankers acceptance in its own portfolio or it can sell it at discounted value in the money market. In an alternative arrangement, the exporter may agree to accept a letter of credit from the importer's bank. This specifies that the bank will accept time drafts from the exporter if the exporter presents suitable documentation that the goods were delivered. Under this arrangement, the exporter is the drawer and payee of the draft. Typically, the bank will not work directly with the exporter but with the exporter's correspondent bank. The exporter may realize proceeds from the bankers acceptance in several ways. The bank may discount it for the exporter; the exporter may hold the acceptance to maturity; or it may sell the acceptance to another party

In international banking, D/A or deliverable against acceptance refers to the instruction given by a goods exporter to the bank. It indicates that the documents are meant to be delivered only against drawee's acceptance of the draft.

A banker's acceptance is a way of financing international trace activity. It is a short-term instrument for investors that is guaranteed by a commercial bank and issued by a firm.

Avalization is the co acceptance of usance export non DC bills by the Drawee bank ( importers bank ). Just in the case of export DC's where exporter's bank discount bills after acceptance from the issuing bank, in Avalization exporter's bank can discount non DC bills after the drawee bank ( importer bank ) has given their co acceptance. The difference here is that the drawee bank is just not giving an acceptance on behalf of the customer , but is co accepting the bills ( which means even in the event of the importer not paying, the drawee bank will pay to the exporter's bank ) For avalization to work, the exporter has to get in touch with the importer and get his buy in for the transaction. Only after the importer buy in is got will the drawee bank co accept the bill. The drawee bank actually earmarks the import limit of the buyer while avalizing the bills and this essentially will only work for importers who have existing import facilities with their banks.

If you are asking about acceptance from the receiver - then No. You only need to confirm with your own bank where you maintain the account, enter details of the receiver and initiate the RTGS transfer. The money will reach the intended party the same day

At the time of issuance of BG

Dr : Constituent's Liability for BGs issued

Cr : Acceptance, Endorsement & Other Obligations - Bank Guarantees

and at the time of cancellation / closure of BG from the books

Dr : Acceptance, Endorsement & Other Obligations - Bank Guarantees

Cr : Constituent's Liability for BGs issued

MT 412 - Specified SWIFT MT which represent relation between parties during import operation. This message type represent is sent by the collecting bank to the remittance bank or when one collecting bank send information about acceptance to another collecting bank. This message type used only in "Acceptance" payment type, when Drawee grantee payment by assign the draft.

DOP will mean that the instructions by an exporter to a bank that the documents attached to the draft for collection are deliverable only after his or her payment of the draft.

DOA will mean that the instructions by an exporter to a bank that the documents attached to the draft for collection are deliverable after his or her acceptance of the goods.

A banker's acceptance starts as a time draft drawn on a bank deposit by a bank's customer to pay money at a future date, typically within six months, analogous to a post-dated check. Next, the bank accepts (guarantees) payment to the holder of the draft, analogous to a post-dated check drawn on a deposit with over-draft protection.

bank

Letters of Credit outstanding - this account arises out of the issuance of letters of credit for which the bank obligates itself to pay or guarantee payment. The bank has a right of recourse against the customer whose credit it substitutes.

Acceptance outstanding - this is similar to the account letters of credit outstanding except that it makes the bank's obligation more real than contingent. the bank will honor the drafts presented to it and will also have the right of recourse against the customer. The acceptance makes the instrument easily negotiable and more acceptable for discounting.

source:

Banking

theory and practice

by: Mercedes M. Leuterio & Consuelo B. Estepa

The first bank machine, which was built by Luther Simjian, was put into use for trial in 1939 by the City Bank of New York. After half a year the machine was removed again, because of lacking customer acceptance.

Sun bank offers services like deposit acceptance, loan granting, selling investment products, selling insurance products, and providing safe deposit lockers.

the value of mortgaged property does not matter, bank has to stick to its acceptance of the value.

COF is a non-bank financial services holding company whose principal subsidiaries are Capital One Bank and Capital One Bank FSB. The auto finance business is conducted under Capital One Auto Finance, a non-bank subsidiary of COF. COF's entry into the auto finance business began with the company's purchase, in 1998, of Summit Acceptance Corp., a subprime lender. In 2001, COF acquired PeopleFirst.com, an Internet-based auto lender focused on prime customers. In January 2005, COF finalized its acquisition of Onyx Acceptance Corp., a California-based midprime lender. COF stands for Capital One Financial Corporation

Acceptance is...

You have to down load the application form from the internet site of Andhra Bank which should be submitted to the branch. On acceptance of your application you would receive the details of password etc. Then only you will be able to log in.

acceptance becomes valid when the letter of acceptance was placed in the post

The acceptance must be unconditional and must follow the rules regarding the method of acceptance.

rules of acceptance

Congratulations on your acceptance into university.

There is no patron saint of acceptance.

-Acceptance must be made in response to to and in exchange for the proposal

-Acceptance must exactly match the term of the proposal

This is not world acceptance corp. Information can be found on the world acceptance corporation by going to their website. The website can be found by typing in, with no spaces, world acceptance corporation.

Documents against payment (DP): The documents get registered with a bank and you get prompted to pay them to release the documents to free the goods.

Documents against acceptance (DA): You are asked to sign an agreement that states after 30 or 45 days the bank is allowed to deduct the amount from your bank account. You will receive the documents immediately after the agreement is signed.

The main difference is in order to receive the documents in a DP you have to pay immediately, for DA a written confirmation that you will allow the bank to deduct the money will release the documents.

DP's are more secure since the money is immediately deducted, DA's bear a certain risk, if at the time of deduction the amount is not on the bank account and the account can not go into minus, the process will be delayed and the bank will try to recover the necessary funds from the bank account owner.

the major difference is the commercial paper does not carry a payment guarantee made by a bank where as the bankers note catties that guarantee

Acceptance is considered to be a rock band.

self acceptance

"Acceptance in Scottish Gaelic."

I resignedly gave a nod of acceptance.

Acceptance - band - ended in 2006.

Acceptance - band - was created in 1998.

Asset Acceptance was created in 1962.

The Acceptance World was created in 1955.

the acceptance rate is 35%

27% acceptance rate in 2008

Acceptance testing is a set of compiled tests to make sure that the delivered product is compliant with the acceptance criterias.

Imagine we are purchasing any good in a showroom. The showroom owner will ask us for payment. For this,we can give him credit card. He will insert that card into machine. Our credit card number will be saved there. Then, we will be asked for a signature to provide the bank a proof that we had given our acceptance. The shop owner will move to bank for his payment. The bank will provide him the money.

Approx. 89% acceptance rate!

Acceptance Speech was created in 2007-11.

the word that is a synonym for tolerance is acceptance

I need an acceptance letter.

The Acceptance World has 214 pages.

WHat is the DA = Payment against acceptance

difference between offer and acceptance?

difference between offer and acceptance?

Does credit acceptance do refinance

27% acceptance rate in 2008

I believe the acceptance rate at Winsor is about 12%.