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Acceptance house
An acceptance house guarantees payment of trade bills used to finance trade deals and goods in shipment. It ‘accepts’ the bills by agreeing to pay the bill at a discounted rate at a specific future date. Its profit is the difference between the discounted amount it guarantees to pay and the full amount of the trade bill that it undertakes to collect from the original creditor.
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- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Financial services
- Category: General Finance
- Company: Reuters
- Product:
- Acronym-Abbreviation:
Other Languages:
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