Purchase Order Financing means trade financing as described below: the bank offers the corporate customer a short-term financing usually less than one year against the purchase order or export contract which the payment will be made by terms of open account (O/A), T/T after shipment or export collection (D/A or D/P) , by paying the customer upon its application an amount equal to a proportion of the total value indicated in the purchase order before the shipment for purpose of the preparation, production, transportation and exports of the goods. After the shipment, all the proceeds hereunder shall be settled through the account opened with the bank, and upon receipt of the payment under the purchase order such proceeds must be used as the first resource to repay the financing.