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The phrase "acceptance of a draft" is correct and usable in written English.
It can be used in contexts related to finance, contracts, or legal documents where a draft (such as a bill of exchange) is formally accepted by a party.
Example: "The acceptance of a draft by the bank signifies their agreement to honor the payment when it is presented."
Alternatives: "approval of a draft" or "endorsement of a draft".
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Everything else was outsized: the upset victory in 1964, to win the title from Sonny Liston ("I'm King of the World!" he shouted to the reporters at ringside), the friendship (and falling out) with Malcolm X, the embrace of the Nation of Islam, the blaze of brilliant fights in the mid-sixties, then the draft, the acceptance of a potential jail term, the stripping of his title, the years in exile.
The high point of the season was the drafting and acceptance of a revolutionary four-year pact between owners and players.
In 1968 he drafted and gained political acceptance of a Water Resources Councils' regulation changing the discount rate used in planning water projects from a formula based on the coupon rate of government bonds to one based on the yield rate a substantial and important policy change.
He complained of a draft.
Acceptance of a prize constitutes consent to use.
Or the acceptance of a master.
§ 217.55 Mandatory acceptance of an allocation order.
§ 33.55 Mandatory acceptance of an allocation order.
"It's acceptance of an offensive attitude".
Age may be a factor in acceptance of an ICD.
It is too early to write him off, but Raider fans take note: acceptance of mediocrity from high draft picks is one of the reasons your defense has ranked 20th or worse in points allowed 9 of the last 10 years.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com