Non-Recourse Discounting is purchase from the seller of accepted term Bills of Exchange at a discount to allow for funding of the advance from the discount date until the maturity date of the bills. When the discount is provided on a non-recourse basis the financing bank has no recourse to the seller in the event of non-payment by the buyer or the buyers’ bank.
More from this Section
- Human Resources Managers
A bank’s performance in serving the public and its owners depends, more than anything else, on the talent, training, and dedication...
- Market Capitalization
Market Capitalization is the total value, at market prices, of the securities at issue for a company or a stock market or sector of the
- Audit Risk
Audit Risk is the risk of giving an incorrect audit opinion.
- Shared services
Shared services— charges to compensate the parent for costs incurred in the general management of international operations and for the other corporate ...
- International Development Association (IDA)
The International Development Association was created in 1960 with country development objectives somewhat similar to those of the World Bank.
- Correspondent Bank
Correspondent Bank refers formal relationships which is established between an overseas bank and a domestic bank to facilitate international banking transactions.
- Features of Central Bank
There are the following features of central bank : The objective of the central bank is to the economic welfare of the country, To take the responsibility of note issue,