TRADE ACCEPTANCE Definition

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TRADE ACCEPTANCE is a draft drawn by the seller of goods upon the buyer who agrees to pay usually by signing "accepted" on the draft along with the buyers signature.

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SIGHT DRAFT is a draft which is payable on demand.

ECONOMIC and MONETARY UNION (EMU) is the European Union's economic and monetary convergence among member countries, culminating in the introduction of a single currency, i.e. the Euro.

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