Buyer Credit

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Definitions
Specific Bank Guarantee
Bank Guarantee Export Credits Guarantee Department (ECGD) Supplier Credit Buyer Credit Export Financing
An unconditional guarantee from the Export Credits Guarantee Department (ECGD) to a UK bank enabling that bank to finance an exporter's medium-term credit to an export customer without recourse; the arrangement is known as supplier credit in contrast to the buyer credit under which the bank finances the overseas buyer to pay the exporter on cash terms.
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