The first owner of the bankers' acceptance created from an international trade transaction will be the importer, who receives the endorsed draft back after the bank has stamped it "accepted."

Question

Quizplus · Accepted Answer

The first owner of the bankers' acceptance created from an international trade transaction will be the exporter, who holds the endorsed draft until it is discounted or sold to a bank or other buyer. The importer receives the goods or services but does not typically take possession of the draft. Once the bank stamps it "accepted," the exporter becomes the holder of a negotiable instrument that can be used as collateral or sold to generate cash flow.

The First Owner of the Bankers' Acceptance Created from an International