A Banker's Acceptance is a negotiable instrument that functions as a postdated check. Banker's acceptances are used in international trade, where the importer and exporter agree to the price and quality of a product in exchange for a payment at a future date. The importer then obtains a bank to issue the banker's acceptance. When the banker's acceptance is presented to the bank, it is accepted by the issuing bank and paid out at the agreed upon date.