„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:
Financial and BankingView all itemsEun, C. S., & Resnick, B. G. (2011). International Financial Management. 7th Edition, McGraw-Hill Irwin. pp. 230-232.
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