Business, Legal & Accounting Glossary
The accommodation party is the person who signs an accommodation bill as a drawer, acceptor or endorser and also acts as the guarantor.
An Accommodation Party is a person who signs a negotiable instrument or commercial paper or agreement for the purpose of being a surety for another party (known as the accommodated party) to the instrument to help the accommodated party obtain a loan or an extension of credit.
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This glossary post was last updated: 4th July, 2019 | 111 Views.