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London acceptance credit
- Article from:
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A Dictionary of Finance and Banking
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Copyright information© A Dictionary of Finance and Banking 1997, originally published by Oxford University Press 1997. (Hide copyright information)
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London acceptance credit
A method of providing immediate cash for a UK exporter of goods. On shipment of the goods the exporter draws a
bill of exchange
on the foreign buyer. The accepted bill is then pledged to a
merchant bank
in London, which ...
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