Home >  Term: discount credit
discount credit

Credit or discount line granted to a customer by a bank to provide liquidity by discounting bills of exchange or similar commercial paper. On the strength of the discount approval, the customer can have bills discounted up to a stipulated total amount, but, having endorsed the bill, remains liable along with the other endorsers as joint and several debtor until the bill is paid on maturity.

0 0

Creator

  • Stefan K
  •  (Gold) 3207 points
  • 100% positive feedback
© 2024 CSOFT International, Ltd.