BILLS PURCHASED Definition

Bookmark and Share

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

CASH AGAINST DOCUMENTS (CAD) is a transaction where the buyer assumes ownership/title for the goods being purchased upon paying the agreed upon sale price in cash.

SEGMENTATION is the act of dividing or partitioning; separation by the creation of a boundary that divides or keeps apart, e.g. segmenting a market along the characteristics and needs of a particular consumer group.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.