Business Dictionary :
Accept, Acceptable and Acceptance

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Accept : verb :

(a) to take something which is being offered

To accept a bill = to sign a bill of exchange to indicate that you promise to pay it

To accept delivery of a shipment = to take goods into the warehouse officially when they are delivered

(b) to say yes or to agree to something

• She accepted the offer of a job in Australia.

• He accepted £200 for the car.

Acceptable : adjective : which can be accepted
• The offer is not acceptable to both parties.

Acceptance : noun :

(a) signing a bill of exchange to show that you agree to pay it

To present a bill for acceptance = for payment by the person who has accepted it

Acceptance house or US acceptance bank = ACCEPTING HOUSE

(b) acceptance of an offer = agreeing to an offer

To give an offer a conditional acceptance = to accept provided that certain things happen or that certain terms apply

• We have his letter of acceptance.

• We have received a letter from him accepting the offer.

Acceptance sampling = testing a small part of a batch to see if the whole batch is good enough

Accepting house : noun : firm which accepts bills of exchange (i.e. promises to pay them) and is paid a commission for this

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