Charging an unconscionable and exorbitant rate or amount of interest for a loan.

Compensation for the use of money.

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).

Party entrusting a draft and/or documents to a bank for collection of payment, generally the seller of goods. draft and/or documents to a bank for collection of payment, generally the seller of goods. draft and/or documents to a bank for collection of payment, generally the seller of goods.

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.

A negotiable instrument that calls for payment of money. The drawer (or seller) orders in writing for the drawee (or buyer) to pay a specific amount of money to the drawer on a certain date. Also called a bill of exchange.

A financing 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.

(See Draft.)

The person, company, or bank upon which a draft is drawn.

The person, company, or bank that creates the draft and receives payment.

Quality belonging to a document to transfer ownership of money, goods, or other items of value specified in the document by endorsement and/or delivery of the document. endorsement and/or delivery of the document.

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

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.

A negotiable instrument that calls for payment of money. The drawer (or seller) orders in writing for the drawee (or buyer) to pay a specific amount of money to the drawer on a certain date. Also called a bill of exchange.

Compensation paid for damage or loss sustained or anticipated.

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.

Writing one's name upon paper for the purpose of transferring the title.

The unsecured promissory notes of large, financially sound corporations.

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

The exclusive rights, powers, privileges and immunities to property, real and personal, tangible and intangible.