Acceptor Definition.

In banking, an acceptor definition is a legal definition that refers to a person who is authorized to accept bills of exchange on behalf of another person.

What is the meaning of bank term?

A bank term is a period of time during which a loan or other financial agreement is in effect. The term of a bank loan is typically set at the time of loan origination and cannot be changed without the agreement of both parties. The length of the term can vary depending on the type of loan, but is typically one to five years for a personal loan, and five to 30 years for a mortgage. Who is an acceptor of a bill? The acceptor of a bill is the person who signs it, thus acknowledging that they will pay the amount due.

What is the meaning of the acceptor?

The acceptor is the entity that agrees to accept a payment instrument, such as a check, draft, or bill of exchange, in exchange for goods or services. The acceptor is typically a financial institution, such as a bank, that agrees to pay the instrument's face value when it is presented for payment.