Question: 3. A banker's acceptance might be best described as a post-dated check. Generally used in international trade, a banker's acceptance arrangement is established between

3. A bankers acceptance might be best described as a post-dated check. Generally used in international trade, a bankers acc

3. A banker's acceptance might be best described as a post-dated check. Generally used in international trade, a banker's acceptance arrangement is established between a bank and a firm. Suppose one of your classmates owns a business named Kakoli Ventures and wants to buy a consignment (shipment) of branded watches from USA. Draw a flow chart showing the process how a banker's acceptance is used in trading also explain why it is important in international trading. (5)

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The bankers acceptance is a form of payment that is guaranteed by a bank rather than an individual account holder The bank guarantees payment at a lat... View full answer

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