Acceptance - what is it in simple words

What is acceptance

The concept of acceptance is closely related to the terms of the contract between two parties. If the second party to the transaction accepts the agreement in the form in which it is presented, without additions from himself, then this means that the agreement has been accepted.

In other words, acceptance is acceptance of the terms of a written agreement. You can accept an invoice, goods, contract, offer, bill of exchange and much more.

Acceptance is quite often used in cases where the parties to the contract cannot meet in person. Then an acceptance is sent, which is accepted by the other party.

At the same time, the Civil Code of the Russian Federation includes some restrictions on the validity of acceptance:

Silence (lack of response) of one party to a contract (offer or demand) of the other is not considered acceptance. This condition applies unless otherwise stated in the agreement between the participants;
If the party who received the contract performs actions in accordance with it, but does not respond to acceptance, then the contract is considered to be accepted automatically.

The participant in the transaction who initiated the acceptance receives a full response agreeing to the stated conditions or refusing to cooperate. Only in the first case is the payment of the due funds under the contract carried out or the fulfillment of the obligations specified in it.

Depending on the specific area of application, acceptance can be explained in simple language as follows:

Consent of the other party to the transaction to pay under the contract;
Payment of obligations under a bill of exchange with fulfillment of the deadline;
Consent to complete a transaction and conclude an agreement without any amendments;
Undertaking to fulfill the obligations of a contract on the own initiative of one of the parties.

It is logical that acceptance is consent, and for example, payment without acceptance implies a forced debit of funds from the debtor’s account without his consent. Such an action is reasonable only within the framework of the law and government agencies have the right to apply it.

Bank Acceptance - they trust us with the future

Consent to the processing of personal data

I give my consent to the processing of Bank Acceptance JSC (location: Novosibirsk, Sovetskaya St., 14), including its structural divisions, of the categories of personal data specified in this application, including collection, recording, systematization, accumulation , use, storage, clarification (updating, changing), retrieval, transfer (distribution, provision, access), including among third parties, depersonalization, blocking, deletion and destruction, both by the bank itself and with the involvement of third parties as performers (including custodians, distributors) acting on the basis of agency or other agreements concluded by them with the bank. The processing of my personal data is carried out for the purpose of fulfilling obligations, concluding and fulfilling contracts between me and the bank, instructing the Bank to process my personal data to other persons, obtaining any information using any means of communication, including telecommunications and postal items, including about bank services, advertising, execution, termination of my obligations to the bank or the bank to me, as well as interaction with the bank on other issues. The processing of my personal data can be carried out through the use of automation tools and without the use of such tools, as well as in other ways, taking into account the technologies available at the bank. This consent is valid for the period necessary to achieve the above-mentioned purposes of processing personal data. If federal law establishes a different period for storing personal data, this application is subject to storage in the manner established by the legislation on archival affairs in the Russian Federation, for the period established by law. This consent may be withdrawn by me at any time by submitting a written application to the Bank. I hereby confirm that the persons specified in this application have been informed (notified) by me about the processing of their personal data by Bank Acceptance JSC. I give my consent to the processing of my personal data by Bank Acceptance JSC for the purpose of sending informational, advertising messages, information about special offers (indefinitely). This consent may be withdrawn by me at any time by sending written notice to the Bank.

Types of acceptance

Acceptance is used in various fields. Its effect extends to business participants.

The most common forms of acceptance are:

Acceptance at the bank;
Acceptance of offer;
Acceptance of the contract;
Acceptance of a letter of credit.

We will talk about the meanings of these types in our article in more detail below. It is important to understand that acceptance is an integral part of most transactions with bills of exchange.

There are its varieties:

Intermediary (when a third party agrees to execute an acceptance order based on the terms of the contract);
Surety (when one person assumes responsibility for the fulfillment of bill obligations by the party who signed the bill);
Unconditional (when the receiving party fulfills the requirements under the contract without disagreement);
Limited (when the accepting party is ready to fulfill the terms of the contract, but with some changes. For example, you can make amendments to the acceptance period);
Conditional (if the execution of the contract is possible only if other conditions are established. In the case of payment on bills, this type of acceptance makes the agreement between the parties invalid);
Local (when the payer agrees under the contract to pay only in the place designated by him);
Partial (if under the contract only a share of the amount indicated in the document is taken into account).

Use of acceptance

Acceptance is convenient because it can speed up the process of agreement between the parties to the transaction. At the same time, financial security is guaranteed for all parties to the agreement. If the specified conditions are not met by one of the parties, payment will not be transferred and the goods will not be shipped.

If acceptance is received from the second party to the transaction, then you can begin to fulfill your obligations. Acceptance of payment gives confidence that the work of the party to the agreement will be paid for by the other party in a timely manner.

Also, the use of acceptance significantly reduces the time for checking additional documentation, which has a positive effect on activities under the contract.

Due to the fact that a personal meeting of the parties to the transaction to sign the acceptance is not required, this saves time and also simplifies the process of fulfilling the specified conditions.

For example, acceptance of goods allows you to accept received goods, check their quantity against the invoice, and only after matching the data make payment to the supplier’s invoice.

Non-cash payments are typical for acceptance. As soon as one party to the transaction fulfills its obligations, the other transfers funds from its account through a payment order.

Between the parties to the transaction there must be an intermediary in the form of some financial organization (bank). To carry out the transfer, both parties to the agreement use the cash settlement center of this particular financial organization. Other forms of payment are considered illegal.

What does "acceptance at the bank" mean?

Banker's acceptance is widely used in the economic market. It is this form of acceptance that acts as a kind of bank guarantee for the execution of the transaction.

Most often, such an acceptance is used when concluding a transaction with foreign partners. The bank's rating and its scale are an indicator of the security of the transaction. For mediation of an agreement between the parties, banks charge a commission, which amounts to a certain percentage of the transaction amount.

The bank's acceptance comes in the form of a payment request, which, upon completion of the work, is presented to the other party to the transaction. However, acceptance is not a 100% guarantee of receiving payment under the contract.

To receive funds, you must fulfill all conditions in accordance with the agreement. If there are any shortcomings in these, then the payment request with acceptance may not be satisfied. In this case, the party that refused payment is obliged to provide the bank with an official explanation of its actions.

If the terms of the agreement are met, then the payer puts his signature on the document, leaves a seal impression and makes a note “Accepted”. In this case, the contract comes into force and payment is transferred to the account of the contractor.

1) one of the forms of non-cash payments between business entities for products supplied, services provided or work performed, which provides for obtaining the buyer’s consent to pay for the products. There are two types of acceptance: preliminary and subsequent.

Under the terms of preliminary acceptance, the bank transfers funds from the buyer's account to the supplier's account for the delivered products only after receiving consent from the buyer to pay for it. Under the terms of subsequent acceptance, the delivered products are paid for by the bank serving the buyer without his consent. However, the buyer has the right to notify the bank within a certain time of his disagreement to pay for the delivered products due to their non-compliance with the concluded agreement. In this case, the bank servicing the buyer provides payment within the established time frame and order; - acceptance by the payer of the obligation to pay the bill of exchange within the period specified in it; 3) - consent to conclude an agreement on the terms proposed by the other party;

4) - in international law - a unilateral statement of being bound by the terms of the contract.

Types of acceptances:

draft acceptance by banks is a form of payment in which the supplier, in the case of selling goods on credit, prefers that the acceptance of the bill of exchange (draft) be made by a large bank. The purpose of the operation is to guarantee that the draft will be taken into account by any bank, since the company that issued the draft is not always known in financial circles;

banking - the bank’s consent to pay payment documents, a form of guarantee of their payment; drawn up in the form of a corresponding inscription of the accepting bank;

bill of exchange - consent to pay a bill of exchange, which is drawn up in the form of a corresponding inscription of the acceptor on the bill of exchange;

indefinite - an acceptance containing additional questions or conditions to the offeror. It is proposed to agree or clarify issues at a meeting of the parties or in another way. In this case, there is no obligation to conclude a contract. Refusal to accept may be made in any form. The silence of the potential acceptor does not give rise to obligations and is a refusal to enter into contractual relations;

negative acceptance is a procedure for formalizing an acceptance in which only a refusal of acceptance is given in writing, i.e. denial of consent to payment, while consent to payment is not documented;

positive acceptance - an acceptance providing for the buyer’s written consent to pay each payment request;

subsequent acceptance is an acceptance in which payment requests are paid during the business day as they are received by the payer’s bank;

preliminary acceptance - an acceptance in which payment of the payment request can be made only after the expiration of the acceptance period, i.e. after the prior consent of the payer, and the payment request is paid the next day after the expiration of the acceptance period;

invoice acceptance - the payer’s consent to full payment of the invoice issued for collection at the bank, presented by the supplier for inventory, work performed and services rendered;

check acceptance - acceptance of checks by the paying bank.

What does “acceptance of offer” mean?

In everyday life, the concept of an offer is often encountered. It means a certain proposal that stipulates a complete list of terms of the transaction.

It is important to carefully review the clauses of such a document, as it contains all the nuances of the agreement. By not paying attention to the offer and accepting the terms thereof, you automatically agree with the information specified in it, which constitutes acceptance.

An offer is often offered when installing any computer programs, buying and selling currency, etc. If you, accordingly, install a program or submit an application to purchase currency, then your actions constitute acceptance of the offer.

Acceptance in this case is your acceptance of all points indicated in the offer.

With this form of consent, two parties to the transaction are involved:

Offeror (one who offers conditions in the form of an offer);
Acceptor (a person who agrees with the terms of the offer and accepts it).

Unless otherwise stated in the contract, the offeror has no right to change the terms of the contract after the offer has been sent to the acceptor. However, the terms of the agreement may indicate a complete cancellation of the offer even after acceptance.

What is “acceptance of contract”

Acceptance is inseparably linked to the contract, which is concluded between the parties to the transaction and acts as an addition to it. The contract itself may have various specifics, on which the type of acceptance will depend.

If one of the parties accepts the terms of the agreement, then this will be considered acceptance of the contract. In this case, the receiving party agrees with all clauses of the agreement and has no claims to the conditions outlined in it. For example, acceptance of an invoice implies agreement on the amount of payment for the transaction.

For the acceptance to take effect, the following marks must be placed on the document:

The word “Accepted” (expressing agreement to fulfill the terms of the agreement);
Signature of the party accepting the acceptance;
Stamp of the person who wrote “Accepted” (if available).

At the same time, in order to accept the contract, it is necessary to fulfill the conditions under it in full by the other party to the transaction. If this occurs, then based on the agreement, payment for the entire volume of services performed is transferred to the counterparty.

In case of refusal of clauses of the contract, acceptance is not concluded. Consequently, the parties will not cooperate, and the transaction will not take place without acceptance, which is expressed in disagreement with the terms of the agreement proposed by one of the parties.

Sample of filling out an application for acceptance. What is acceptance and its types: banking, acceptance of contract and offer