Bank credit

 

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Bank credit

The maximum credit an individual may secure from his/her bank.



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Creditor days

Creditor days

A ratio used to work out how many days on average it takes a company to pay its creditors. Calculated by dividing the trade creditors shown in its accounts by its sales, and then multiplying by 365.E.g. A company with creditors of 900,000 and sales of 12m, takes an average 27.37 days to pay its bills.Within reason, the higher the number the better, although if a company is very slow in paying its creditors (say 100 days plus) it is worth asking if this is because it has problems generating enough cash quickly enough to pay them.


Credit note

Credit note

A note, issued to a person or company when goods are returned by them, which cancels the original invoice. If the invoice has been settled before the goods are returned the credit note will then entitle the holder to alternative goods (or sometimes cash) to the original value.


Export credit insurance

Export credit insurance

A program to guarentee payment to exporting firms who extend export credits.


Evergreen credit

Evergreen credit

Revolving credit without maturity.


Usance Letter of Credit

Usance Letter of Credit

A letter of credit payable at a determined future date after presentation of conforming documents.


Further Suggestions

Transferable letter of credit
Letter of credit (LOC)
Revolving line of credit
credit insurance
bank giro credit
Demand line of credit
credit reference agency
Financial institution buyer credit policy
Credit union
Credit linked security
Purpose credit
secured creditor
Revocable letter of credit
Credit bureau
credit card
Federal credit agencies
Unified tax credit
Credit union
credit union
Generic credit spread
Best interests of creditors test
children's tax credit
Backup Line of Credit
Earned income credit
full faith and credit


 
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