Acceptance credit: Difference between revisions
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imported>Doug Williamson (Add second definition to align with ACT ICM material.) |
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A UK money-market term for a bill of exchange drawn by a customer on its bank, which is accepted and then discounted by the bank, the proceeds being paid to the customer. | |||
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A revolving line of credit involving the use of accepted bills of exchange. | |||
Revision as of 12:14, 13 May 2016
1.
A UK money-market term for a bill of exchange drawn by a customer on its bank, which is accepted and then discounted by the bank, the proceeds being paid to the customer.
2.
A revolving line of credit involving the use of accepted bills of exchange.
