„Advance Against Collection“

What does Advance Against Collection stand for?

A short term loan or credit extended to a seller (usually the exporter) by the seller’s bank once a draft has been accepted by the buyer (generally the importer).

Source:

Eun, C. S., & Resnick, B. G. (2011). International Financial Management. 7th Edition, McGraw-Hill Irwin. pp. 230-232.

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