The term "acceptance" can only apply when the credit calls for usance bills (term bills), i.e. bills of exchange payable at a specified time "after acceptance by the drawee. And bills should be drawn on a bank. "File acceptance credit is also referred to ms a "term credit" or "usance credit", which means that the seller draws a draft on the nominated bank demanding payment at some &terminable future date, e.g. at 30 days" sight instead of at sight. In practice, this means dial instead of receiving immediate payment on presentation of the documents ( at sight), the seller"s draft is returned to him accepted on face by the nominated bank. The seller usually requires a specified bank to draw a credit bill to ask the buyer to make payment.