Accommodation Party

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Definition: Accommodation Party

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What is the dictionary definition of Accommodation Party?

Dictionary Definition

The accommodation party is the person who signs an accommodation bill as a drawer, acceptor or endorser and also acts as the guarantor.

Full Definition of Accommodation Party

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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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.

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https://payrollheaven.com/define/accommodation-party/
Modern Language Association (MLA):
Accommodation Party. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. July 04, 2020 https://payrollheaven.com/define/accommodation-party/.
Chicago Manual of Style (CMS):
Accommodation Party. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/accommodation-party/ (accessed: July 04, 2020).
American Psychological Association (APA):
Accommodation Party. PayrollHeaven.com. Retrieved July 04, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/accommodation-party/

Definition Sources

Definitions for Accommodation Party are sourced/syndicated and enhanced from:

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

This glossary post was last updated: 4th July, 2019 | 67 Views.