Bill Discount under usance L/C means trade financing as describe below: the bank, after the acceptance of the bill under a usance L/C by the issuing bank or confirming bank or other nominated bank (the "accepting bank") , discounts with recourse such bill upon the corporate customer’s application.  

Accounts Receivable Purchase under the usance L/C means trade financing as describe below: the bank, after the confirmation of the due date under a deferred payment L/C by the issuing bank or confirming bank or other nominated bank (the "honoring bank") purchases with recourse the accounts receivable under such deferred payment L/C upon the corporate customer’s application.