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Definitions (96)
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Working Capital
The cash required to fund inventories and accounts receivables. Accounting definition is current assets less current liabilities.
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Tenor
The term or life of a contract. Often used in relation to the term of a letter of credit or a bill of exchange.
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term sheet
A contractual document, typically issued by a bank, that outlines the general terms and conditions of a financing agreement.
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syndicated loan
A very large loan in which a group of banks work together to provide funds for one borrower. There is usually one lead bank that takes a small percentage of the loan and syndicates the rest to other b [..]
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Supplier credit
Credit granted by an exporter to its international buyer as part of its supply agreement. The NZECO can provide the exporter with supplier credit insurance covering the risk of default on repayment of [..]
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surety bond
A surety bond guarantees the performance or financial obligations of others, and they are issued by a licensed surety company. In the construction industry, for example, surety bonds are provided to t [..]
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Sovereign guarantee
An irrevocable guarantee by a Government that commits itself to full payment of an export transaction. This will be required by the NZECO in cases involving a public sector buyer which does not have s [..]
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Short term credit
Credit that has a maturity of less than 360 days.
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Security debt
A debt obligation backed by the pledge of assets or other forms of security.
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Shipping documents
These documents relate to the circumstances of conveyance and delivery of goods, and their possession normally represents title to those goods. The stage at which these documents are handed over to th [..]
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