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.
Type of letter of credit providing for payment some time after presentation of shipping documents by exporter.
A documentary credit that allows a nominated bank, or the issuing bank, to effect payment against the documents presented at a future maturity date as specified or determinable from the wording of the credit.
A letter of credit term referring to a credit that is payable to the beneficiary at a future time. A deferred payment credit does not require presentation of a draft drawn on the paying/negotiating bank until some future date.