A Control Account. The account which is opened in the name of the Borrower in the books of the agent bank for a transaction into which are paid the proceeds of sale of the project’s output. Also known as a Proceeds Account.
A Control Account. The account which is opened in the name of the Borrower in the books of the agent bank for a transaction into which are paid the proceeds of sale of the project’s output. Also known as a Proceeds Account.
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