Business, Legal & Accounting Glossary
The party that signs accepted on a draft or obligation, agreeing to pay the stated sum at maturity.
The drawee of a bill of exchange after acceptance of the bill i.e. the acceptor has accepted liability by signing the face of the bill.
The acceptor is the third party who accepts responsibility for payment in a bill of exchange. The bill of exchange will generally have three parties: the drawor, the drawee and the acceptor.
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This glossary post was last updated: 6th February, 2020 | 12 Views.