specific bank guarantee

Show Summary Details

Quick Reference

An unconditional guarantee from the Export Credits Guarantee Department to a UK bank enabling that bank to finance an exporter’s medium-term credit to an export customer without recourse; the arrangement is known as supplier credit in contrast to the buyer credit under which the bank finances the overseas buyer to pay the exporter on cash terms.

Subjects: Financial Institutions and Services — Accounting.

Reference entries

Users without a subscription are not able to see the full content. Please, subscribe or login to access all content.