bank Audit
This query is : Resolved
22 November 2008
wht u mean by foreign usance discount bill purchase(FUDBP)
and foreign discount bill purchase(FDBP)
and foreign discount bill purchase(FDBP)
Ravikumar.G
(Expert)
22 November 2008
Usance Bill: A bill of exchange, which allows the drawee to have a usance (period of credit or term).
Foreign Bill Purchased (FBP): A bill remitted to a correspondent bank in which the remitting bank is financing the exporter.
Foreign Bill Purchased (FBP): A bill remitted to a correspondent bank in which the remitting bank is financing the exporter.
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