Definition for : Buyer's credit
GLOSSARY LETTER
Buyer's credit, one of the types of bank guarantees, is used to finance export contracts of goods and/or services between an exporter and the buyer importing the goods/services. The banks granting the buyer's credit commit to provide the borrower with the funds needed to pay the supplier directly according to the terms specified by contract. Buyer's credit is also called Export credit.
(See Chapter 22 Shares of the Vernimmen)
To know more about it, look at what we have already written on this subject