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creditacceptance.com. Credit Acceptance Corporation is an auto finance company providing automobile loans and other related financial products. The company operates its financial program through a national network of dealer-partners, the automobile dealers participating in the programs. The company operates two programs: the "Portfolio Program ...
Acceptance credit. An acceptance credit is a type of letter of credit that is paid by a time draft authorizing payment on or after a specific date, if the terms of the letter of credit have been complied with. The bank "accepts" bills of exchange drawn on the bank by the debtor, discounts them and agrees to pay for them when they mature.
Financial markets. A banker's acceptance is a commitment by a bank to make a requested future payment. The request will typically specify the payee, the amount, and the date on which it is eligible for payment. After acceptance, the request becomes an unconditional liability of the bank. Banker's acceptances are distinguished from ordinary time ...
Ally Financial Inc. (previously known as GMAC) is a bank holding company incorporated in Delaware and headquartered at Ally Detroit Center in Detroit, Michigan.The company provides financial services including car finance, online banking via a direct bank, corporate lending, vehicle insurance, mortgage loans, and other related financing services such as installment sale and lease agreements.
Atlantic Acceptance was a finance company specializing in commercial, real estate and auto loans. It began business in 1953 and was eventually headed by Campbell Powell Morgan, a chartered accountant living in Toronto's Lawrence Park district. Control of Atlantic came to be held by Lambert International, headed by financier Jean Lambert.
The building block of the acceptance loan was an instrument known as the bill of exchange — ultimately a contract to pay a fixed sum of money at a future date. Bills of exchange were originally designed as short-term contracts but gradually became heavily used for long-term borrowing. They were typically rolled over and became de facto short ...
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