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acceptance credit

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payment terms

Overview page. Subjects: Financial Institutions and Services.

The agreed way in which a buyer pays the seller for goods. The commonest are cash with order or cash on delivery; prompt cash (i.e. within 14 days of delivery); cash in 30, 60, or 90 days...

See overview in Oxford Index

revolving acceptance facility by tender

Overview page. Subjects: Financial Institutions and Services.

(RAFT)

An underwritten facility from a bank to place sterling acceptance credits through the medium of a tender panel of eligible banks.

See overview in Oxford Index