Definition: Trade credits and advances
European System of Accounts (ESA)
Financial claims arising from the direct extension of credit by the suppliers of goods and services to their customers, and advances for work that is in progress or is yet to be undertaken, in the form of prepayment by customers for goods and services not yet provided (ESA 2010).
Financial assets arising from the direct extension of credit by suppliers and buyers for goods and services transactions and advance payments for work that is in progress or to be undertaken and associated with such transactions (ESA 1995).
Eurostat, "European System of National and Regional Accounts - ESA 2010", Luxembourg, 2013