banker's acceptance
- noun
- /ˈbæŋkərz əkˈsɛptəns/
- Specialized
:
aceptación bancaria
- The company received a banker's acceptance for the shipment.
Examples
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With a banker's acceptance, the exporter receives payment guaranteed by the buyer's bank.
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Many international trade deals rely on banker's acceptances for secure payment.
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The company used a banker's acceptance to finance its import transaction.
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Can you explain what a banker's acceptance is?
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A banker's acceptance is often used in international trade to facilitate transactions between exporters and importers.
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Many companies prefer to use a banker's acceptance because it provides a guarantee of payment from a financial institution.
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When negotiating a deal, they offered a banker's acceptance to ensure the seller would receive payment on the agreed date.
Synonyms
16
8.7
A bill a bank signs to promise payment at a later date
How Secure
- Specialized
14
2.7
- UK
1
5.7
- Specialized
- Formal
- Specialized
6
7.0
Surface Forms
Morphology
banker's + acceptance
The phrase is compositionally analyzable as an 'acceptance' associated with or issued by a 'banker' (bank), so its basic structure is predictable from the constituents. However, the specific sense — a technical financial instrument (a bill of exchange/time draft guaranteed by a bank) — requires domain knowledge that a B1 learner is unlikely to have, making full comprehension from the parts alone unlikely.
Etymology
Banker's acceptance comes from the bank literally 'accepting' a payment bill: the banker would stamp the acceptance on the paper to promise to pay on a later date, so the seller could trust the money. So today a banker's acceptance means a bill of exchange 'guaranteed' by a bank to be paid in the future.