When a bill of exchange is signed by a debtor, it is said to be

When a bill of exchange is signed by a debtor, it is said to be "accepted". A bill of exchange is a negotiable instrument that is used in international trade to provide a secure method of payment. The bill is a written order from one party (the creditor) to another party (the debtor) to pay a specified amount of money on a specific date. When the debtor signs the bill of exchange, indicating their agreement to pay the amount specified, the bill is said to be "accepted". This acceptance creates a legally binding obligation on the part of the debtor to pay the creditor at the specified time. Once the bill has been accepted, it can be bought and sold by third parties through a process called "negotiation". The creditor may choose to negotiate the bill to a bank or other financial institution, which will pay the creditor the face value of the bill less a discount, and then seek to recover the full amount from the debtor at the specified time. Overall, acceptance of a bill of exchange is an important step in the process of international trade as it provides a measure of security and confidence for both the creditor and debtor.