A loan made to the overseas buyer, or to a bank acting for the buyer, so that the exporter can be paid on shipment or against documents rather than waiting out extended terms. The exporter contracts on sight terms, receives the proceeds from the lender, and drops out of the credit relationship; the buyer repays the lender over the agreed period, and the risk of non-payment sits with the lender, usually supported by a guarantee or insurance from an export credit institution. Contrast supplier credit, where the exporter itself extends the deferred terms and carries the buyer’s credit risk, perhaps discounting the resulting receivable. The price of the goods and the cost of the credit are easier to separate under buyer credit.
Why this entry carries no source list. This is a product category or an official document type rather than a defined term. What it covers or attests is set by the policy wording, the facility terms, or the requirements of the country demanding it — and those differ by insurer, by bank and by jurisdiction. Naming one provider’s brochure as the authority would dress a single firm’s practice as a general rule. Read the wording you are actually being offered.