Difference between revisions of "Acceptance (shipping)"
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'''Acceptance''' refers to either: | '''Acceptance''' refers to either: | ||
| − | *a time draft (or bill of exchange) that the payer has accepted and is unconditionally obligated to pay at maturity | + | *a [[time draft]] (or bill of exchange) that the payer has accepted and is unconditionally obligated to pay at maturity |
* any agreement to purchase [[goods]] under specified terms.<ref>U.S. Department of Transportation Maritime Administration [http://www.marad.dot.gov/publications/glossary/glossary.html]</ref> | * any agreement to purchase [[goods]] under specified terms.<ref>U.S. Department of Transportation Maritime Administration [http://www.marad.dot.gov/publications/glossary/glossary.html]</ref> | ||
Revision as of 02:01, February 19, 2009
Acceptance refers to either:
- a time draft (or bill of exchange) that the payer has accepted and is unconditionally obligated to pay at maturity
- any agreement to purchase goods under specified terms.[1]