The practice of accepting or paying a bill of exchange after it has been dishonoured, by an individual aiming to preserve the honour of the drawer or an endorser.
Words written on a bill of exchange to indicate that the drawee has been informed that the bill is being drawn on him or her.
Back-to-back credit, also known as countervailing credit, is a method used to conceal the identity of the seller from the buyer in a credit arrangement. This finance technique involves a finance house acting as an intermediary between the foreign seller and the buyer.
A Back-to-Back Letter of Credit (L/C) is a secondary letter of credit issued to a different beneficiary, supported by a primary letter of credit. This financial instrument is used in complex, three-party transactions to provide assurance and liquidity to trading partners.
The banker's discount is the discount calculated by a bank when purchasing a bill of exchange before its maturity.
A confirmed irrevocable letter of credit adds an additional layer of security for the beneficiary by employing a second bank's confirmation, ensuring payment even if the initial issuing bank fails.
Countervailing credit, often referred to as back-to-back credit, is a form of financing used in international trade that involves two separate but interdependent letters of credit. This type of credit is typically established by an intermediary in trade transactions to facilitate complex trade processes.
The Export Credits Guarantee Department (ECGD), now known as UK Export Finance (UKEF), is the United Kingdom's export credit agency, which is responsible for providing guarantees and insurance to UK-based businesses to help them export goods and services. This government department facilitates international trade by offering financial support and risk management solutions.
The Export Credits Guarantee Department (ECGD), now operating under the name 'UK Export Finance,' is a UK government department that promotes exports by providing credit insurance and guaranteeing financer repayment for long-term credit terms.
An irrevocable letter of credit, also known as ILOC, is a financial instrument issued by a bank guaranteeing a buyer's payment to a seller will be received on time and for the correct amount, providing the terms specified in the letter are met. It cannot be amended or canceled without the consent of the beneficiary.
A letter of credit (L/C) is a financial instrument issued by a bank or other financial institution that guarantees a buyer's payment to a seller will be received on time and for the correct amount.
A remitting bank processes documents sent by the exporter under a collection arrangement and sends them to the collecting bank in the importer’s country.
UK Export Finance, also known as the Export Credits Guarantee Department, is the United Kingdom's export credit agency. It provides government financial support to help UK businesses succeed in the global marketplace.
