 The drawee stamps ACCEPTED on the draft and is thereafter obligated to make the specified payment when it is due.If the drawee is a bank, the acceptance is called a banker's acceptance.Bankers acceptances are considered eligible collateral under the Treasury Tax & Loan (TT&L) Program under 31 CFR part 203

Often, banks were willing to buy time drafts from the party holding the acceptance, provided the issuer was credit worthy.