c. to accept a bill of exchange (“draft”) drawn by the beneficiary and pay at maturity if the credit is available by acceptance.

Where a bill payable after sight is accepted for honour, its maturity is calculated from the date of the noting for non-acceptance, and not from the date of the acceptance for honour.

When bill discount, the bank presses fixed interest rate from bill expire deduct in the value come from loan day of note maturity should plan accrual, pay the person that oppose a bill more than.