Acceptance
The contractual agreement entered into when the Drawee of a time Draft writes "accepted" on the document and specifies a Payment date. The drawee, thereby known as the acceptor, is responsible for making the payment at Maturity.
The contractual agreement entered into when the Drawee of a time Draft writes "accepted" on the document and specifies a Payment date. The drawee, thereby known as the acceptor, is responsible for making the payment at Maturity.