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Acceptance Credit |
Also found in: Encyclopedia | 0.01 sec. |
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Acceptance Credit A letter of credit in which the buyer authorizes the transfer of funds to the seller on or after a certain date assuming the conditions of the letter are met. Acceptance credit may be confirmed, meaning that a bank has promised to pay in the event of default, or unconfirmed, meaning the seller assumes the risk of the borrower's default. See also: Banker's Acceptance. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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