Definitions for "Acceptance Credit"
A facility provided by banks to their corporate customers where the corporate customer draws a bill of exchange that is accepted by the bank and discounted. Acceptance credits allow short-term financing of national or international trade transactions.
A documentary credit which requires the beneficiary to draw a usance bill of exchange for subsequent acceptance by the issuing bank or the advising bank or any other bank stipulated in the credit. Is primarily designed to provide finance for the applicant.
A documentary credit which requires the beneficiary to draw a usance bill for subsequent acceptance by the issuing bank or the advising bank or any other bank as the credit stipulates - see Documentary Credits.
a good alternative if your transaction does not reach the minimum amount for a straight loan