BILLS PURCHASED Definition

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BILLS PURCHASED, in trade finance, allows a seller to obtain financing and receive immediate funds in exchange for a sales document not drawn under a letter of credit. The bank will send the sales documents to the buyers bank on behalf of the seller.

Learn new Accounting Terms

EARNINGS FROM OPERATIONS (EFO) represent earnings before other operating items less (i) depreciation and amortization plus (ii) other income less (iii) other expense.

INVOICE, CONSULAR is an invoice stamped or endorsed by the consulate of the country requiring such.

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