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Supplier Credit

English translation: deferred (re)payment terms

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:Supplier Credit
Selected answer:deferred (re)payment terms
Entered by: jerrie

09:11 Jun 9, 2004
English language (monolingual) [PRO]
Bus/Financial - Accounting
English term or phrase: Supplier Credit
I want to know the definition of SUPPLIER CREDIT.Plese send to me the meaning of SUPPLIER CREDIT.Thank You.
kyawt
khin kyawt kyawt san
deferred repayment terms
Explanation:
The supplier offers deferred repayment terms.
Or for example the customer has 30 days from dispatch/shipping to make a full/part payment for goods received.

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Note added at 2004-06-09 09:18:17 (GMT)
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Supplier Credit:
The supplier of goods or services agrees to deferred repayment terms.
Selected response from:

jerrie
United Kingdom
Local time: 11:46
Grading comment
Graded automatically based on peer agreement.
4 KudoZ points were awarded for this answer



SUMMARY OF ALL EXPLANATIONS PROVIDED
4 +8deferred repayment terms
jerrie
5 +2see comment.
Craft.Content
4 +2A sort of grace period or period of delay given by a supplier to a customer for paying bills
Rowan Morrell
5Self-financing of a supplier's operations
Milena Sahakian
4agreement to deferred repayment terms.
wrasz1


  

Answers


6 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +8
deferred repayment terms


Explanation:
The supplier offers deferred repayment terms.
Or for example the customer has 30 days from dispatch/shipping to make a full/part payment for goods received.

--------------------------------------------------
Note added at 2004-06-09 09:18:17 (GMT)
--------------------------------------------------

Supplier Credit:
The supplier of goods or services agrees to deferred repayment terms.



    Reference: http://www.iaf.au.com/glossary3.htm
jerrie
United Kingdom
Local time: 11:46
Native speaker of: Native in EnglishEnglish
PRO pts in category: 8
Grading comment
Graded automatically based on peer agreement.

Peer comments on this answer (and responses from the answerer)
agree  Julia Gal
1 min
  -> Thanks
agree  Vicky Papaprodromou
28 mins
  -> Thanks
agree  Jörgen Slet
1 hr
  -> Thanks
agree  mrrobkoc
2 hrs
agree  Ray Luo
7 hrs
  -> Thanks
agree  Alfa Trans (X)
1 day 7 hrs
agree  Gareth McMillan: Just payment without "re" is enough IME.
3 days 7 hrs
  -> I bow to your expertise. Beats Google any day of the week ;-)) (IME - estimation?)
agree  wrasz1
17 days
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6 mins   confidence: Answerer confidence 5/5 peer agreement (net): +2
supplier credit
see comment.


Explanation:
A supplier is a busines person / agency that sells goods or services. When the customer buys the goods or services in cash, then the transaction ends then and there. But when the customer buys the goods or services with a "promise"/"commitment" to make the payment at a later date, say after "n days", then we say that the Supplier has given a _credit_ of "n days" to the customer.

This deferred payment amount is termed as "supplier credit", and appears as "Outstanding Payable" in the balance sheet of the customer, and as "Outstanding Receivable" in the balance sheet of the supplier.

Hth.



--------------------------------------------------
Note added at 7 mins (2004-06-09 09:18:26 GMT)
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Please change \'busines\' to \'business\'.

Craft.Content
Local time: 16:16
Specializes in field
Native speaker of: Native in HindiHindi
PRO pts in category: 8

Peer comments on this answer (and responses from the answerer)
agree  Jörgen Slet
1 hr
  -> Thanks for the agree, Jorgen :-)
agree  Rajan Chopra
6 hrs
  -> Cheers !
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5 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +2
supplier credit
A sort of grace period or period of delay given by a supplier to a customer for paying bills


Explanation:
The site below has quite a good definition, which I hope I've managed to sum up reasonably well above. A supplier sends you an item and gives you a certain amount of time (say 30 days) to pay for that item. That's it in a nutshell, really.

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Note added at 7 mins (2004-06-09 09:18:46 GMT)
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This is as opposed to paying for the item on the spot, or soon as you have taken delivery of it.

So if, say, you buy a TV set, but the supplier/vendor sends you the set and gives you 30 days to pay for it, that\'s supplier credit, basically.


    Reference: http://strategis.ic.gc.ca/epic/internet/insbrp-rppe.nsf/en/r...
Rowan Morrell
New Zealand
Local time: 22:46
Native speaker of: Native in EnglishEnglish
PRO pts in category: 4

Peer comments on this answer (and responses from the answerer)
agree  Jörgen Slet
1 hr
  -> Thanks Jörgen.
agree  Rajan Chopra
6 hrs
  -> Thanks langclinic.
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4 days   confidence: Answerer confidence 5/5
supplier credit
Self-financing of a supplier's operations


Explanation:
Also the agreement of a supplier of goods or services to deferred repayment terms.


Milena Sahakian
Bulgaria
Local time: 13:46
Native speaker of: Bulgarian
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17 days   confidence: Answerer confidence 4/5Answerer confidence 4/5
supplier credit
agreement to deferred repayment terms.


Explanation:
Supplier credit
Definition: Self-financing of a supplier's operations. Also the agreement of a supplier of goods or services to deferred repayment terms.


    Reference: http://www.moneyglossary.com/?w=Supplier+credit
wrasz1
Local time: 12:46
Native speaker of: Native in PolishPolish
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