Assured payment system: Difference between revisions
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== See also == | == See also == | ||
* [[Exchange-for-value system]] | * [[Exchange-for-value system]] | ||
* [[Irrevocable]] | |||
Revision as of 14:01, 13 November 2016
(APS).
An arrangement in an exchange-for-value system under which completion of the timely settlement of a payment instruction is supported by an irrevocable and unconditional commitment from a third party (typically a bank, syndicate of banks or clearing house).
