A contract granting the use and possession of real property for a specified time and for fixed payments.

A medium of exchange; coined or stamped currency.

Individuals involved in a sales transaction. In domestic sales: seller and buyer. In international sales: exporter and importer. In shipping: shipper and consignee. In letters of credit: beneficiary (seller) and applicant (buyer). exporter and importer. In shipping: shipper and consignee. In letters of credit: beneficiary (seller) and applicant (buyer). exporter and importer. In shipping: shipper and consignee. In letters of credit: beneficiary (seller) and applicant (buyer).

A person who takes possession of a debtor's assets in a bankruptcy proceeding and liquidates them to pay creditors. Appointed by the bankruptcy judge unless the district has a U.S. Trustee.

(See Insolvency.) Insolvency.) Insolvency.)

or business entity that owes money.

A tax on imported goods imposed by customs authorities in a given country. customs authorities in a given country. customs authorities in a given country.

An injunction issued automatically upon filing a petition for bankruptcy protection. It prohibits collection actions against the bankrupt debtor. injunction issued automatically upon filing a petition for bankruptcy protection. It prohibits collection actions against the bankrupt debtor. petition for bankruptcy protection. It prohibits collection actions against the bankrupt debtor.

The party (generally buyer/importer) for whose account a letter of credit is established.

The person or company due payment in the letter of credit. Usually the exporter (seller).

An individual or company to whom cargo is shipped or consigned.

The person or company that sells or arranges to transport goods out of a country.

Indemnity given by the beneficiary of a letter of credit to the negotiating bank to induce payment despite any discrepancies that may exist in the documents.

Under the Balance Sheet definition of insolvent in the U.S. Bankruptcy Code, a debtor is insolvent when the value of a debtor's assets is exceeded by the debtor's liabilities.

National government authorities that control imports, inspect imports, and collect duties levied on both imports and exports

The document that initiates a bankruptcy case. "Pre-petition" events are those that occur before a bankruptcy petition is filed, and "post petition" events are those that occur after the petition is filed.

A financing instrument issued by a bank in favor of an exporter that substitutes the bank's creditworthiness for that of the importer. instrument issued by a bank in favor of an exporter that substitutes the bank's creditworthiness for that of the importer.

After the seller presents the required documents to this bank for review, it will notify the issuing bank that terms of letter of credit have been met. issuing bank that terms of letter of credit have been met.

The privilege of buying goods, services or borrowing money in return for a promise of future payment.

The party (generally buyer/importer) for whose account a letter of credit is established.

The person or company due payment in the letter of credit. Usually the exporter (seller).

An individual or company to whom cargo is shipped or consigned.

The person or company that sells or arranges to transport goods out of a country.

Indemnity given by the beneficiary of a letter of credit to the negotiating bank to induce payment despite any discrepancies that may exist in the documents.

Under the Balance Sheet definition of insolvent in the U.S. Bankruptcy Code, a debtor is insolvent when the value of a debtor's assets is exceeded by the debtor's liabilities.

National government authorities that control imports, inspect imports, and collect duties levied on both imports and exports

A writ of judicial process issued by a court by which a party is required to do a particular thing or to refrain from doing a particular thing.

The document that initiates a bankruptcy case. "Pre-petition" events are those that occur before a bankruptcy petition is filed, and "post petition" events are those that occur after the petition is filed.

Compensation paid for damage or loss sustained or anticipated.

A financial statement listing the assets, liabilities and owner's equity of a business entity as of a specific date.

A right to the payment of money such as agency notes, commercial paper, T-Bills, certificates of deposit (CD's), banker's acceptances and repurchase agreements.

Also known as the opening bank. It issues its commitment to the seller in the form of a letter of credit.

Land with all its buildings and legal interests.

An instrument in writing under seal in the name of the state, issued out of a court of justice at the commencement of or during a legal proceeding.

The unsecured promissory notes of large, financially sound corporations.

The account party's bank that issues or opens the credit.