acceptance
noun
uk/əkˈseptəns/ us [ U ]
the act of agreeing to something such as an offer or invitation:
The board has recommended acceptance of the offer.
On acceptance of the proposal, a draft agreement will be sent to both parties.
[ U ] COMMERCE, LAW
the act of formally agreeing to buy or sell goods at a particular price or to use something in a particular way:
We will confirm acceptance of your order by email.
A formal letter of acceptance is sent to the successful supplier.
Placing of an order constitutes acceptance of our terms and conditions.
[ U ] MARKETING
willingness of people to use a new product or service or to believe a new idea:
gain/find/win acceptance These devices are gaining acceptance within the marketplace.
consumer/customer/public acceptance The project aims to assess consumer acceptance of GM foods.
[ C ] FINANCE
an agreement by a shareholder to sell their shares to another company during a takeover:
The bidding company has received acceptances in respect of 73.27% of the issued shares.
[ C or U ] FINANCE
an act of agreeing to pay a bill of exchange (= a written order to pay someone a particular amount of money) by writing your name on the document, or the document itself:
In essence, an acceptance is a promise to pay.
[ U ] INSURANCE
an agreement or contract between an insurance company and a customer to provide insurance:
This life insurance plan offers guaranteed acceptance for the over 50s.
[ U ] IT, PRODUCTION
approval of a new machine, computer system, etc. after testing it to check that it works correctly:
A number of acceptance tests were performed.
See also
banker's acceptance
documents against acceptance
non-acceptance
user acceptance test