Supplier Credit is a financing arrangement under which an exporter extends credit to the buyer that occurs when the supplier accepts installment payments for the selling. Normally the importer can pay a portion of the value and signs a promissory note to pay the rest on receipt of the goods and on acknowledging acceptance. The importer’s bank is called the presenting bank and the exporter’s bank is called the remitting bank. (Refer to the Export Credit; Buyer’s (Buyer) Credit)
Related Definitions in the Project: The Project Management; Procurement
