Examlex
A letter of credit must be in writing and signed by the issuer.
Collection Time
The average period it takes for a business to receive payments owed by its customers after a sale has been made.
Lockbox System
A service provided by banks to companies for receiving payments from customers; payments are sent to a post office box and then quickly processed by the bank.
Money Market Securities
Money Market Securities are short-term debt instruments that are highly liquid and considered safe, such as Treasury bills, certificates of deposit, and commercial paper.
Collection Time
The average period it takes for a business to receive payments owed by its customers, reflecting the effectiveness of its credit and collection policies.
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