What is the definition of Advance against collection? | Dictionary.net

ADVANCE AGAINST COLLECTION

\ɐdvˈans ɐɡˈɛnst kəlˈɛkʃən], \ɐdvˈans ɐɡˈɛnst kəlˈɛkʃən], \ɐ_d_v_ˈa_n_s ɐ_ɡ_ˈɛ_n_s_t k_ə_l_ˈɛ_k_ʃ_ə_n]\

Definitions of ADVANCE AGAINST COLLECTION

1910 - Black's Law Dictionary (2nd edition)

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A bank loan that is short term given to an exporter or seller. It is paid when the buyer pays for the shipment. The bank can take their money out at that point. If this does not occur the seller is responsible to pay.

1910 - Black's Law Dictionary (2nd edition)
By Henry Campbell Black

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