Acceptance Credit

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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.
References in periodicals archive ?
The Sunstone Acceptance financing program can be used by participating funeral homes that have access to the web.
Baltimore and Atlanta, BB&T International provides consultative services, letters of credit, documentary collections, foreign check collection, bankers' acceptance financing and export credit insurance.
Financing methods vary with the requirements of the exporters (eg pre- or post-shipment financing), and of their bankers, and can involve loans, letters of credit, acceptance financing, warehouse financing, etc.
Umpqua's international banking division offers a full range of trade finance products and services, including: commercial letters of credit (import and export), online letter of credit issuance, standby letters of credit, documentary collections, direct collections, bankers acceptance financing, trade cycle financing, pre- and post-export financing, and foreign exchange services.
Sterling also provides its clients with other products including, bankers' acceptance financing, documentary collections, and foreign exchange.
Trade finance services offered by Umpqua's international banking division will include: commercial letters of credit (import and export), online letter of credit issuance, standby letters of credit, documentary collections, direct collections, bankers acceptance financing, trade cycle financing, pre- and post-export financing, and foreign exchange services.
Additionally, the Bank's international experts provide customers with export financing, banker's acceptance financing, international collections and payment services.
ABN AMRO is working with UPS Capital Global Trade Finance to develop the back-end technology and trade services for companies doing business internationally, particularly the issuance and negotiation of letters of credit and subsequent bankers' acceptance financing.
The facility will be used to meet the company's working capital needs for letter of credit and bankers acceptance financing.