Definitions for "Deferred Payment Credit"
An arrangement under which payments due to the exporter on presentation of the shipping documents are deferred for an agreed period of time. Français: Paiement de crédit différé Español: Crédito con pagos diferidos
A DC which allows the nomination of a bank, or the issuing bank to effect payment against stipulated documents at a maturity date as specified or determinable from the wording of the credit.
Using stipulated documents, a bank can effect payment on a DC at a maturity date that is specified or determinable in the credit terms.