Define: Acceptor

UK Accounting Glossary

Definition: Acceptor


Quick Summary of Acceptor


The party that signs accepted on a draft or obligation, agreeing to pay the stated sum at maturity.



What is the dictionary definition of Acceptor?

Dictionary Definition


  1. One who accepts.
  2. legal, commerce One who accepts a draft or a bill of exchange; a drawee after he has accepted.

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.

 


Advertisement



Full Definition of Acceptor


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.


Advertisement



Synonyms For Acceptor


accepting, scavenger, receiver, recipient, acceptance


Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/acceptor/
Modern Language Association (MLA):
Acceptor. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. February 28, 2020 https://payrollheaven.com/define/acceptor/.
Chicago Manual of Style (CMS):
Acceptor. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/acceptor/ (accessed: February 28, 2020).
American Psychological Association (APA):
Acceptor. PayrollHeaven.com. Retrieved February 28, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/acceptor/

Definition Sources


Definitions for Acceptor are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • BusinessDictionary.com
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 1st September 2019.