A money market instrument used to finance international and domestic trade. They are checks drawn on a bank by an importer or exporter of goods and represent a bank s unconditional promise to pay the face amount of the note at maturity (which is normally less than three months).

Short-term notes "accepted" or guaranteed by a bank for eventual payment.

Are money market instruments which are used to finance import or export transactions. These instruments are essentially checks and represents a bank's promise and ability to pay the face or principal amount on the stipulated maturity date. Maturities are generally less than 3 months. Bankers Acceptances are viewed as money market instruments.

Time drafts drawn on or accepted by banks for payment on their maturity date. These instruments are widely used in international trade and can be purchased like a money market or CD security. Businesses and individuals can purchase these short-term liquid investments.

A draft or bill of exchange accepted by a bank or trust company. The accepting institution guarantees payment of the bill.

investment vehicle created to facilitate international commercial trade transactions. The bank accepts responsibility to repay a loan to the holder of the investment vehicle created in a commercial transaction. The credit worthiness of Bankers Acceptances are enhanced because they are secured by the issuing bank, the goods themselves, and the importer. Bankers Acceptances are sold on a discounted basis.