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Business Dictionary :
Accept, Acceptable and Acceptance
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