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.
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The Sunstone Acceptance financing program can be used by participating funeral homes that have access to the web.
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.
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