Acceptance

The acceptance is a variant of the foreign bill of exchange. In addition to the issuer 's signature, such a bill of exchange always includes the drawee 's acceptance signature.

The foreign bill of exchange is executed by the drawer/issuer of a bill of exchange of the promissory note: he calls on someone to pay a named third party at a specified place and time the amount specified in point. In this case, the exchange transaction has three rolesshes: the issuer, the drawee called for payment on the bill and the beneficiary, who receives the amount of the bill of exchange from the from the debtor at maturity. 

It is important that the drawee is not obliged to pay simply because he was asked to pay on the bill of exchange. If, on the other hand, you as a customer have really entered into a loan transaction covered by bill of exchange, you must acknowledge your payment obligation on the bill of exchange itself. This bill of exchange is the first you can do it by signing on the page, so the drawee becomes an acceptor. This is called acceptance of a bill of exchange. As the acceptor, the foreign bill of exchange will be a debtor, i.e. a direct promissory note debtor. 

However, the signature of the foreign bill of exchange of exchange by the drawee is not a prerequisite for validity. A foreign bill of exchange draft be an instrument or an acceptance according to the identity of the debtor. The difference between the two forms is the bill of exchange concerns the person of the debtor is essential. The name of the foreign bill of exchange accepted by the drawee is acceptance. A non-accepted foreign bill of exchange is a draft. 

The special feature of the draft note is that the instrument is also a valid bill of exchange, if it contains all mandatory features of a bill of exchange. In this case, the bill of exchange debtor is the issuer, but all signatories of the promissory note anywhere are liable as underwriters promissory note debtors for payment of the amount of the bill of exchange. 

However, it is important that the acceptance by the drawee of a foreign bill of exchange of exchange issued by us does not release us as the issuer from our payment obligation. In this case addition to being an obliged acceptor, we will henceforth become an underwriter. 

The version of the foreign bill of exchange (draft) is often used in international business as an accompanying document as a bill of exchange in connection with the commercial letter of credit.  A version of the acceptance is attached to the document obliges as a bill of exchange it is part of the widely accepted lending system, deferred payment covered by bills of exchangeugh as letter of credit. 

It also accompanies documents means as a bill of exchange and the role of the acceptance also in the case of the D/A version of the documentary collection. With this payment technique, affor goods delivered overseas, the seller has the right to dispose of the goods the bank only allows against acceptance of a bill of exchange of exchange. Here, the bill of exchange of exchange is usually bought by the seller foreign bill of exchange of exchange drawee to own decree ("Pay me...").