Thursday, 08 April 2010 15:42
Trade AcceptanceWritten by Admin
1. Origin of Drawee Obligation. Drawee obligation arises out of the purchase of goods by Acceptor from Drawer.
2. Where Payable. Drawee may accept this bill payable at any bank in the United States that Drawer may designate.
3. When and to Whom Payable. On [date], pay to the order of [name] (Payee) the sum of ---------- dollars ($----------), with interest at the rate of ---------- percent (----------%) per annum, commencing [number] days from the date of acceptance.
4. Attorney Fees. If this Trade Acceptance is placed in the hands of an attorney for collection, Drawee promises to pay Drawer's reasonable collection costs, including reasonable attorney fees, even though no suit or action is filed. However, if suit or action is filed, the amount of reasonable attorney fees shall be fixed by the court or courts in which the suit or action, including any appeal, is tried, heard, or decided.
Accepted this [dated].
Payable at [Bank] located at [address].