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What does certificate of acceptance mean?

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certificate of acceptance
Noun


The document signed by the lessee acknowledging that the leased asset has been received by the lessee, that the lessee accepts the asset in its received condition for the purposes of the lease and that its lease obligations are fully binding without further condition.

Synonym(s): 
  • acceptance certificate; certificate of acknowledgement and acceptance of leased equipment; certificate of delivery and acceptance; delivery and acceptance certificate.
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