acceptance credit

Acceptance credit — An acceptance credit is a type of letter of credit that is paid by a time draft authorizing payment on or after a specific date, if the terms of the letter of credit have been complied with. There are two types of acceptance credit, confirmed and …   Wikipedia

acceptance credit — A means of financing the sale of goods, particularly in international trade. It involves a commercial bank or merchant bank extending credit to a foreign importer whom it deems creditworthy. An acceptance credit is opened against which the… …   Accounting dictionary

acceptance credit — A means of financing the sale of goods, particularly in international trade. It involves a commercial bank or merchant bank extending credit to a foreign importer, whom it deems creditworthy. An acceptance credit is opened against which the… …   Big dictionary of business and management

acceptance credit — Fin a line of credit granted by a bank to an importer against which an exporter can draw a bill of exchange. After acceptance by the bank, the bill can either be sold in the market or held until maturity …   The ultimate business dictionary

acceptance credit — /ək septəns ˌkredɪt/ noun an arrangement of credit from a bank, where the bank accepts bills of exchange drawn on the bank by the debtor: the bank then discounts the bills and is responsible for paying them when they mature; the debtor owes the… …   Dictionary of banking and finance

acceptance credit — noun : an authorization given by a bank to a specified beneficiary to draw drafts upon the bank up to a specified amount …   Useful english dictionary

irrevocable documentary acceptance credit — A form of irrevocable confirmed letter of credit in which a foreign importer of UK goods opens a credit with a UK bank or the UK office of a local bank. The bank then issues an irrevocable letter of credit to the exporter, guaranteeing to accept… …   Big dictionary of business and management

London acceptance credit — A method of providing immediate cash for a UK exporter of goods. On shipment of the goods the exporter draws a bill of exchange on the foreign buyer. The accepted bill is then pledged to a merchant bank in London, which accepts an accommodation… …   Big dictionary of business and management

Credit Card — A card issued by a financial company giving the holder an option to borrow funds, usually at point of sale. Credit cards charge interest and are primarily used for short term financing. Interest usually begins one month after a purchase is made… …   Investment dictionary

acceptance commission — See: acceptance credit …   Accounting dictionary

Credit Solutions of America — Industry Financial Services Founded 2003 in Dallas, Texas Headquarters Richardson, Texas Products Debt settlement Website …   Wikipedia