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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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unconditional contract
Agreement where all conditions have been filled for the contract to come into force.
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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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surety company
A company that is licensed to write a surety bond. A surety company's primary duty is not to lend the contractor money. Instead, it uses its financial resources to guarantee a contractor's c [..]
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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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starting point of credit
For most export transactions the credit period starts at the time of delivery of goods (although there may be exceptions for some industries). In connection with sales of capital equipment for turnkey [..]
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