accepting bank
Noun
A bank to which another bank sends a letter of credit (L/C) on behalf of a client, accepts the L/C by countersigning (endorsing) it, and incurs the obligation to pay the L/C upon its maturity.
A bank to which another bank sends a letter of credit (L/C) on behalf of a client, accepts the L/C by countersigning (endorsing) it, and incurs the obligation to pay the L/C upon its maturity.
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