When a drawee acknowledges in writing on the face of the draft that the buyer will pay the draft at maturity. (See also Draft, Drawee.) drawee acknowledges in writing on the face of the draft that the buyer will pay the draft at maturity. (See also Draft, Drawee.) drawee acknowledges in writing on the face of the draft that the buyer will pay the draft at maturity. (See also Draft, Drawee .)

A term used in the body of drafts/bills of exchange indicating that payment is due upon presentation or demand.

Payment scheduled for a set period of time after shipment or presentation of shipping documents, as opposed to immediately or "at sight."

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.

The beneficiary delivers the documents to the advising bank to negotiate on the seller's behalf. beneficiary delivers the documents to the advising bank to negotiate on the seller's behalf. beneficiary delivers the documents to the advising bank to negotiate on the seller's behalf.

Typically, a commercial invoice, bill of lading, insurance certificate, and consular invoice. invoice, bill of lading , insurance certificate , and consular invoice. bill of lading, insurance certificate, and consular invoice.

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.

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

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

The bank that receives a letter of credit issued by the applicant's bank (the issuing bank) and forwards it to the beneficiary without assuming any responsibility or liability other than to verify the authenticity of the letter of credit.

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

Document signed by a transportation company ("carrier") to show receipt of goods for transportation from and to the points indicated.

A commercial invoice that has been reviewed by the Consulate of the buyer's country for the purpose of determining the value and quantity of the shipment and to ensure that no indigenous laws or regulations governing imports are being broken.

A document issued by an insurance company covering a particular shipment of merchandise.

Document which shows the terms of a sale. Includes a full description of the goods, sale price, charges, and discounts.

(See Draft.)

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

A medium of exchange; coined or stamped currency.

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.

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

Any company that may transport goods for payment, such as an ocean vessel, aircraft, truck, train, or courier service.

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.

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

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.

The bank that receives a letter of credit issued by the applicant's bank (the issuing bank) and forwards it to the beneficiary without assuming any responsibility or liability other than to verify the authenticity of the letter of credit.

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

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

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

Document signed by a transportation company ("carrier") to show receipt of goods for transportation from and to the points indicated.

A commercial invoice that has been reviewed by the Consulate of the buyer's country for the purpose of determining the value and quantity of the shipment and to ensure that no indigenous laws or regulations governing imports are being broken.

A document issued by an insurance company covering a particular shipment of merchandise.

The unsecured promissory notes of large, financially sound corporations.

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