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.
UN-PRESENTED CHECK is a check that was written but has not yet been forwarded to or paid by the bank on which it is drawn.
EXTERNAL DEBT is the total private and public debt owed by a country to individuals, households, firms, and governments in other countries.
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