A qualified acceptance of a bill of exchange varies or modifies the terms of a bill.
Such an acceptance may take the form of
o Conditional:payment by the acceptor is dependent on the fulfillment of a condition.
o Partial: this is an acceptance to pay part of the amount for which the bill is drawn.
o Local:this is an acceptance to pay only at a particular specified place.
o Qualified as to time
o Acceptance by one or more drawees but not by all