【最新版！】Multinational Finance (By Kirt C. Butler) Sixth Edition (2016)习题及答案 ....
8.6 What is a banker’s acceptance, and how is it used in international trade?
A banker’s acceptance is a time draft drawn on a commercial bank in which the bank promises to pay the holder of the draft a stated amount on a specified future date. Banker’s acceptances are negotiable and so may be sold by the exporter to finance working capital.


8.7 What is discounting, and how is it used in international trade?
Discounting is the purchase of a promised payment at a discount from face value.


8.8 How is factoring different from forfaiting?
Factoring is the sale of accounts receivable. Forfaiting is a form of factoring involving medium- to long-term receivables with maturities of six months or more.