Definition of Clean acceptance

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TeachMeFinance.com - explain Clean acceptance




historic definition...

Clean acceptance -- A clean acceptance on a bill of exchange (draft) is when the drawee (the one who is to pay the bill) writes on the face of it only the word "Accepted" followed by the date and signature or followed by the date, signature and place of payment. Another name for clean acceptance is general acceptance.



About the author

Mark McCracken

Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English".


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