TPO Wants to Offer Supplier Credit to Help Boost Export

Head of the Trade Promotion Organization said it wants to use resources designated to bolster export by the National Development Fund of Iran, the sovereign wealth fund, to issue supplier credit.   
“We are planning to use NDFI resources to issue supplier credit for export,” Alireza Peyman-Pak was quoted as saying by the TPO news website. 
A supplier credit is an agreement in a commercial contract under which an exporter sells goods or services to a foreign buyer on credit. Payment on credit means the foreign buyer will either pay a lump sum at a later date or in instalments on specific future dates agreed mutually. Credit of this type allows the buyer to receive the goods he needs in the present time.