acceptance credit definition

acceptance credit

One of the means by which international trade is financed. Under this arrangement, a bank (or an acceptance House) in the exporter's country sets up an acceptance credit facility (similar to a checking account) on behalf of a creditworthy importer. The exporter then can draw on this account up to its limit. Also called acceptance financing.

acceptance credit is in the Accounting & Auditing, Banking, Commerce & Finance and International Trade & Relations subjects.

acceptance credit appears in the definitions of the following terms: acceptance financing and advance against documents

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