„Advised Credit“
What does Advised Credit stand for?
A letter of credit whose terms and conditions have been notified to the beneficiary by an advising bank on behalf of the issuing bank. The advising bank does not thereby commit itself to pay or guarantee the payment of the letter of credit.
Source:
Financial and BankingView all itemsJimenez, S. (2010). Trade Finance in the Global Economy. London: Palgrave Macmillan.
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