an export financing arrangement whereby an exporter is paid from the proceeds of a loan arranged between a bank or banks and the importer. The exporter may be paid either immediately or over time, depending on the conditions of sale.
The term 'buyer credit` shall apply to a loan agreement between one or more financial institutions and one or more borrowers financing a commercial contract providing for an export of goods and/or services originating in a Member State, whereby the lending institution(s) undertake to pay the supplier(s) under the underlying transaction on cash terms on behalf of the buyer(s)/borrower(s), while the buyer(s)/borrower(s) will reimburse the lending institution(s) on credit terms.
Online Language Learning Tool SkELL allows users to search for phrases in sentences, collocates and similar words. These examples have been automatically selected and may contain errors.
