The process by which a financial institution (the "factor") buys accounts receivable from a business firm (the client) at a discount, or lends money, and takes in return the assignment of such accounts. (See also Export Factoring.) accounts receivable from a business firm (the client) at a discount, or lends money, and takes in return the assignment of such accounts. (See also Export Factoring.)

A medium of exchange; coined or stamped currency.

Negotiation of a draft, or other negotiable instrument, or letter of credit documents without the normal warranty on the part of the seller of the instrument/documents that the obligor named in the instrument (the "drawee," "payor," or "maker") will pay. n of a draft, or other negotiable instrument, or letter of credit documents without the normal warranty on the part of the seller of the instrument/documents that the obligor named in the instrument (the "drawee," "payor," or "maker") will pay.

A negotiable instrument that calls for payment of money. The drawer (or seller) orders in writing for the drawee (or buyer) to pay a specific amount of money to the drawer on a certain date. Also called a bill of exchange.

The person, company, or bank upon which a draft is drawn.

A financing instrument issued by a bank in favor of an exporter that substitutes the bank's creditworthiness for that of the importer.

Quality belonging to a document to transfer ownership of money, goods, or other items of value specified in the document by endorsement and/or delivery of the document.

The transfer of a negotiable instrument in such form that the transferee becomes a holder.

(See Draft.)

The person, company, or bank upon which a draft is drawn.

The person, company, or bank that creates the draft and receives payment.

Quality belonging to a document to transfer ownership of money, goods, or other items of value specified in the document by endorsement and/or delivery of the document.

A negotiable instrument that calls for payment of money. The drawer (or seller) orders in writing for the drawee (or buyer) to pay a specific amount of money to the drawer on a certain date. Also called a bill of exchange.

The person or company that sells or arranges to transport goods out of a country.

The party to which the rights under a transferable letter of credit are transferred. credit are transferred.

A claim against a customer for services rendered or goods sold on credit.

A right to the payment of money such as agency notes, commercial paper, T-Bills, certificates of deposit (CD's), banker's acceptances and repurchase agreements.

Writing one's name upon paper for the purpose of transferring the title.

The privilege of buying goods, services or borrowing money in return for a promise of future payment.

A right to payment or other equitable remedy in the event of a breach of contract.

The privilege of buying goods, services or borrowing money in return for a promise of future payment.

The unsecured promissory notes of large, financially sound corporations.

The exclusive rights, powers, privileges and immunities to property, real and personal, tangible and intangible.