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

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. exporter that substitutes the bank's creditworthiness for that of the importer.

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). shipper and consignee . In letters of credit: beneficiary (seller) and applicant (buyer). shipper and consignee. In letters of credit: beneficiary (seller) and applicant (buyer).

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

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.

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.

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

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.

Compensation paid for damage or loss sustained or anticipated.

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

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.

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.

The unsecured promissory notes of large, financially sound corporations.

A medium of exchange; coined or stamped currency.

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