Define Bankers’ Acceptances?

Hello to everyone on this website. Can any one tell me about Bankers Acceptances.
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A banker's acceptance, or BA, is a promised future payment, or time draft, which is accepted and guaranteed by a bank and drawn on a deposit at the bank. The banker's acceptance specifies the amount of money, the date, and the person to which the payment is due. After acceptance, the draft becomes an unconditional liability of the bank.
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Any acceptance commences as a time bill careworn on a bank deposit by way of a bank's buyer to pay income at the appropriate time, usually inside of a few months, comparable to your position-dated check. Subsequent, the lender takes (guarantees) settlement for the holder in the write, correspondent to a submit-out dated check out utilized over a put in with more than-draft safety.
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