What does acceptance credit mean?

acceptance credit meaning in Law Dictionary

When a bank sets up a credit center for a creditworthy importer. The exporter may use the account. This might be also referred to as acceptance funding.


acceptance credit meaning in Business Dictionary

one of several means in which worldwide trade is financed. Under this arrangement, a bank (or an acceptance home) inside exporter's country creates an acceptance credit facility (just like a checking account) on behalf of a creditworthy importer. The exporter after that can draw with this account around its limitation. Also referred to as acceptance funding.