TeachMeFinance.com - explain Exporter's credit
Exporter's credit -- Exporter's credit is given when an exporter
is allowed to draw on a dealer in foreign exchange in
advance of an actual shipment abroad by him ; when he makes
his shipment he discharges his obligation by delivering the
draft drawn against the consignee of the property shipped, together
with the bill of lading, to the dealer in exchange to
whom he is indebted.
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