If the buyer's or seller's bank stamps its name, date, and signature on the face of a draft, it becomes a:

Question

Quizplus · Accepted Answer

When a bank stamps its name, date, and signature on the face of a draft, it becomes a banker's acceptance. This signifies that the bank has accepted the responsibility for the payment of the draft on the due date. The buyer can then use the banker's acceptance to pay the seller, knowing that the payment is backed by the bank's creditworthiness.

If the Buyer's or Seller's Bank Stamps Its Name, Date