In the United Kingdom, a financial company (such as a bank, merchant bank, etc) that endorses a bill of exchange or banker’s acceptance created by a drawer. The endorsement has the effect of guaranteeing the underlying amount will be paid to the beneficiary or bearer on the due date. In return for this service, i.e., assuming the drawer’s credit risk (credit enhancement), the accepting house charges a fee in the form of a discount on the amount of the instrument.