Acceptancebusiness forum,trade forum,business opportunity,Business China,Business India,Brazil business$M6H:M#?.W$q&m#])p [

'M&]+i'g(L%I/H&r EThe act of giving a written undertaking on the face of a usance bill of exchange to pay a stated sum on the maturity date indicated by the drawee of the bill, (usually in exchange for documents of title to goods shipped on D/A terms) - see Collections Introduction.business forum,trade forum,business opportunity,Business China,Business India,Brazil business"B-L6E%I1s8C'\8K
[A Professional Business Forum]'F(m5p+t&Y1L'r"`9I(F
Acceptance CreditFOB Business Forum9^:A9o-q _-v$r4u9]+b3]+w

7\8e(I:p&W9OFOB Business ForumA documentary credit which requires the beneficiary to draw a usance bill for subsequent acceptance by the issuing bank or the advising bank or any other bank as the credit stipulates - see Documentary Credits.www.fobshanghai.com,r$b(Q"i,T ^8\%J

7p5w2M+@)X-A,y(n8QFOB Business ForumAccommodation Bill
"m&P9V;v+m%i8N1VFOB Business ForumFOB Business Forum!V)W4h!p!z8B"E&T0h9J%A
In the context of fraud, a bill drawn without a genuine underlying commercial transaction.
;v#Q%z,M.q;b1N[A Professional Business Forum]
-I0~*Y*b.M*^(KFOB Business ForumAccounteewww.fobshanghai.com"A9u4W!F i,?7?

)P-l#B+{#T8~4z)[Another name for the applicant/opener of a documentary credit i.e. the importer = the person for whose account the transaction is made.www.fobshanghai.com:w2P1n0|6S*G#Y!V1t*P
FOB Business Forum*f4`:F$u6b1q.d
Advice of Fatewww.fobshanghai.com;S'B:J6U!X#R5p
FOB Business Forum/U"h)j:p3_-z
The Collecting Bank informs the Remitting Bank of non- payment/non-acceptance or (for D/A bills) of acceptance and the bill maturity date - see Handling Import Collections.FOB Business Forum,K1r"o4w'|

9w+['K Z,j8N6z8M8QAdvisingFOB Business Forum#V,c#}1}(@ X8O8x w(}%f
business forum,trade forum,business opportunity,Business China,Business India,Brazil business.B%t%u,]-Z-H"v5p3|!d"f
Act of conveying the terms and conditions of a DC to the beneficiary. The advising bank is the issuing bank agent, usually located in the beneficiary country - see Export - DC Advising.
7C3z/e/n!J"n6l){business forum,trade forum,business opportunity,Business China,Business India,Brazil business
8}8T H4O0E#|2V&^FOB Business ForumAdvising also involves authentication i.e. advising bank should take reasonable care to check the apparent authenticity of the credit (ICC UCC 500 Art 7).business forum,trade forum,business opportunity,Business China,Business India,Brazil business4?%Q3? ](e4b)W
www.fobshanghai.com&`(d1m1v(o8p#H.W3A
Amendment
;]$D7^ |%B[A Professional Business Forum]FOB Business Forum5z1k2a.Q'D/Y2x
Alteration to the terms of a DC; amendments must stem from the applicant, be issued and advised to the beneficiary; the beneficiary has the right to refuse an amendment if the credit is irrevocable - see Amendments to DCs.
/i*|,f9S;x1A[A Professional Business Forum][A Professional Business Forum]&g5[*~+t+l-N8_%i9D.`
Applicant/Y3m8p6[8P*l+V%t'y

([#M'B.B2h j7lOne who applies to his bank to issue a documentary credit; in the majority of credits issued the applicant is an importer of goods FOB Business Forum/K6X$b8e,b
　
6c$r*M&\6z&?-w9x0E4[www.fobshanghai.comAvalise
'K/`:["_3|0O[A Professional Business Forum]
(c&K!i+u*YFOB Business ForumThe act by a bank in guaranteeing payment of a bill of exchange or promissory note by endorsing the reverse with the words good per aval and signed by the bank, or by the issuance of a separate guarantee.
)u1o$V8\*d(n/`&e:b9D1y-Zwww.fobshanghai.com　
.m9|,T2K0P S;\FOB Business ForumBack-to-Back Credit
8g;s7F)Y&d!NFOB Business Forum7[)H.?#H9D0K:j
A credit issued against the security back of another credit (master credit) on the understanding that reimbursement will stem from documents eventually presented under the first credit (master credit) issued - see Special DCs. It follows therefore that each side of a B/B transaction covers the shipment of the same goods.[A Professional Business Forum]!`0@*F1R$R#Z

"a9L;v5W9m:]-r0f2xBeneficiaryFOB Business Forum.e1J3B0u7p2|2e'S&C
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A payee or recipient, usually of money.
:A*]%T&C&s+B7O+IFOB Business Forum%X']4X Q7h
A party in whose favour a documentary credit is established, usually the exporter.
1i-[2m4_,E5f)a3mwww.fobshanghai.com
$G.^(b2S z,g+^%GFOB Business ForumBill for Collection (BC)
(j+p6f*}/X;H2s[A Professional Business Forum]www.fobshanghai.com!K'@%R.C,v7L$j&\*i
Document(s) or cheque submitted through a bank for collection of payment from the drawee.
8{#_.b#O0s9c6Pwww.fobshanghai.com(S"@:~$I d5Y0I _
Bill of Exchange (B/E)
1s7u$d1Z#S2D)O8R6X,L7{"IFOB Business ForumFOB Business Forum1E/T*Y8c)z$T;W
An unconditional order in writing, addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay on demand or at fixed or determinable future time a sum certain in money to or to the order of a specified person, or to bearer.
0s%|7N;j(@,A-b/xbusiness forum,trade forum,business opportunity,Business China,Business India,Brazil business9w8l,f7H,e,X,F8s
Bill of Lading (B/L)
'f"[1A1^8{2b1@ SFOB Business Forum
(B6O6k3Z8U,W'Cwww.fobshanghai.comA receipt for goods for shipment by sea. It is a Document of Title: see Documents.business forum,trade forum,business opportunity,Business China,Business India,Brazil business4L&e3b7\-[#F
　 FOB Business Forum7g6P-t'W+F;z0l'N#O,@
Bill Receivable (BR)
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Bills which are financed by the receiving branch, whether drawn under a DC or not, are treated as BRs by both the remitting branch and the receiving branches - see Bills Receivable.www.fobshanghai.com0A1}*E.b'I-e
FOB Business Forum9I0_6w0e:Z
Blank EndorsedFOB Business Forum-{0]5D9W%{ M;q!p)H
[A Professional Business Forum]'Y0v!F u#z8P&T
When a bill of lading is made out to order or shipper order and the shipper has signed on the back of it, it is said to be blank endorsed. The bill of lading then becomes a bearer instrument and the holder can present it to the shipping company to take delivery of the goods. FOB Business Forum-m'Q(G$c;H+Z K
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Carrierwww.fobshanghai.com u(i1S4}$u
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Person or company undertaking for hire the conveyance of goods e.g. shipping company
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Case of Need
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Agent nominated by a principal, to whom the collecting bank may refer in specified circumstances concerning collections - see the sections on Collections.business forum,trade forum,business opportunity,Business China,Business India,Brazil business'Y8e$|4s'r-t.b&l

"D(K/Y'D/KFOB Business ForumChaserFOB Business Forum8B6g-D%O1j.W,y&N5M

7|/{;}1R&X9y:|#g#R+e,}[A Professional Business Forum]Reminder sent by the collecting (or DC issuing) bank to the importer, repeating a request for payment - see Handling Import Collections.*H3I/G"p/x#R m
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Clean
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Used to describe a draft/cheque with no shipping documents - see Collections Introduction.business forum,trade forum,business opportunity,Business China,Business India,Brazil business3U5^1s-z"N4Y&c%x&@"X%l&t,X
[A Professional Business Forum];z6p6~:s;n'h&K
Used to describe a bill of lading without clauses that expressly declare a defective condition of the goods or the packing.
/{(S+E7v+u)I vbusiness forum,trade forum,business opportunity,Business China,Business India,Brazil businessbusiness forum,trade forum,business opportunity,Business China,Business India,Brazil business)U$H*|9\'j*Z3`,X!x5M
Clean Bill PurchasedFOB Business Forum:z!X.c,M*|7N)D
business forum,trade forum,business opportunity,Business China,Business India,Brazil business7~;L/D6L;{;g
A collection bill purchased with no shipping Purchase documents - see Financing Export Collections.business forum,trade forum,business opportunity,Business China,Business India,Brazil business"Z0})L,K/},S
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Clean Bill Receivable (CBR)"S+` v+s!S*q3Q4_!f2o6@6Z
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BR (Bill Receivable) with no shipping documents. The term is more often used for non-trade bills such as travellers cheques.
(S#v$C!q4O"~)l7XFOB Business Forumwww.fobshanghai.com"Q)h$e5c0z&j7d
Clean Collection
(a*G:L-`*|#l-y7^1c"D*awww.fobshanghai.com
$y$P$j){"RFOB Business ForumA draft with no documents Collection attached - see Collections ?Introduction?
*J8]0Y$h8a&{*a-E%_:H"SFOB Business Forum's2Z7J4M4\9C
Clean Import Loan (CIL)www.fobshanghai.com)_"X6N6g3w+~-n)v*i
[A Professional Business Forum]9?7V)f3?/^4K)p)j2j+v
A loan granted to an importer for payment of import bills, without the Bank having any claim to the goods.
!a(T6V1|.l4I+q-W2n!iwww.fobshanghai.com[A Professional Business Forum]!{){-C2k5Z"V
Collection Bankwww.fobshanghai.com#j)R'I0I%|'i
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Bank in the drawee country that is instructed to collect payment from the drawee - see Collections Introduction.,d;k#M#N3s;q;g)Q
FOB Business Forum(@)e(g.H'R
Collection Orderwww.fobshanghai.com$H2f6U*v9\8s,G9k$I9@"_3t
FOB Business Forum2v5d;x*Y-?/f
Form submitted, with documents, to the Remitting/Negotiating Bank by an exporter with his instructions - see Collections ?Introduction.
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Confirming[A Professional Business Forum]5`$T;f:r+z'T

7Z0R7|%l8_ N-Fbusiness forum,trade forum,business opportunity,Business China,Business India,Brazil businessAct of a bank other than the issuing bank assuming the liability for payment, acceptance or negotiation of correctly presented documents under a DC - see Confirmation of DCs. www.fobshanghai.com)[${2z!R"}/Z$W0K
　
"q)k;q(?#}4T4d-v+P4lFOB Business ForumConsigmentwww.fobshanghai.com%[/`.Z+i2~"`

4t2T&a*h$q3_:EFOB Business ForumShipment of goods.FOB Business Forum(n,}3u5T&`!E Y4p/S#q

'P0U0m(x2a1E3q;bConsignee
*]/f(k9i-X'c/r,ubusiness forum,trade forum,business opportunity,Business China,Business India,Brazil businesswww.fobshanghai.com-R#b(^*g-J3h
The person/company/bank to whom the goods are delivered - usually the importer or the Collecting Bank - see Handling Import Collections.
)b!}"P(P,l'FFOB Business Forumwww.fobshanghai.com.G;M;l'e(n-H7L9z
Consignorbusiness forum,trade forum,business opportunity,Business China,Business India,Brazil business0h$G/m/S4m!H$?1C;p
business forum,trade forum,business opportunity,Business China,Business India,Brazil business(f9w)y*X"|!N2G,l
Also called shipper, is the person/company who sends goods by ship, by land or air.#r5v/x-d:H3e h

:X&A5z"R/Q%eFOB Business ForumContingent Liability.e*e0y5L:x+p-\3T

5C1p*d"K$^6{:Pwww.fobshanghai.comA liability that arises only under specified conditions, e.g. when a bank opens a DC it incurs an obligation to make a future payment on condition that the terms are fully met. business forum,trade forum,business opportunity,Business China,Business India,Brazil business+e#E m&?%X x
FOB Business Forum5n;w)V"u9O*[ q;z

0M.E:L1Z*k#S3z.K6]/X;TFOB Business ForumDC Billsbusiness forum,trade forum,business opportunity,Business China,Business India,Brazil business+Z4v"i5D'h0x:|
　
$]'{9\;N:^*n+A0yBills drawn under documentary credits. a4];S4_-P:y,Q8z
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Deferred Payment Credit (DPC)[A Professional Business Forum],t3O2k9U.w-|9E6L)x5s*Q
　
-I!x#P*p(H#K.[5H9nA DC which allows the nomination of a bank, or the issuing bank to effect payment against stipulated documents at a maturity date as specified or determinable from the wording of the credit.
;f0Y$@1r"F[A Professional Business Forum]　
-i/T0D4C;T1N'}+B9B,],F:@(f(XDemurragewww.fobshanghai.com)I-p,?1o1C.A(F'J
　 business forum,trade forum,business opportunity,Business China,Business India,Brazil business(['z*^)H3})E"x1{/Q,m
A charge made by a shipping company or a port authority for failure to load or remove goods within the time allowed.
7T2S"D"f!f$m-v*p*\5gwww.fobshanghai.com　
0R/X$~2V4@6z9TFOB Business ForumDiscounting8z&r/s(A.s(^"j,Q7p

${/B3J,y3v(o,cAct of purchasing an accepted usance bill of exchange at an amount less than the face value.　 business forum,trade forum,business opportunity,Business China,Business India,Brazil business&Y6l4l3~2o)z,z
Discrepancy
&V,k,v:a)K$W8]:g:s　
-f6Z1s/k2s)I[A Professional Business Forum]Any deviation from the terms and conditions of a DC, or the documents presented thereunder, or any inconsistency between the documents themselves - see Negotiation under DCs.+@$O0{5z6Z4Q&`
　 5?;W"z4t9m5x(L
Dishonour[A Professional Business Forum]'H(x&R h(G0^2L
　 [A Professional Business Forum]2y,@&r#h/s#^9P
Non-payment or non-acceptance.FOB Business Forum;Z'?5N;j1Y"d%W
　
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$|+R4N:x*c/R(T1{5RA conditional undertaking by a bank to make payment, often abbreviated to credit. More precisely, it is a written undertaking by a bank (issuing bank) given to the seller (beneficiary) at the request of the buyer (applicant) to pay a sum of money against presentation of documents complying with the terms of the credit within a set time limit.
#_+A0Y)p3Z5J&}www.fobshanghai.com
7M0t:D,z3}4],p/f/W[A Professional Business Forum]Documents
4z%{"m9A5K7b[A Professional Business Forum]　 www.fobshanghai.com;T9|!z#a8D)n%x5I
The characteristics and importance of the various documents associated with Import/Export operations are explained and illustrated in Deciding on Documents.
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Documents Against Acceptance (D/A)FOB Business Forum,f+s5N#v;F
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Instruction for commercial documents to be released to the drawee on acceptance of the Bill of Exchange - see Collections ?Introduction.FOB Business Forum;K,L6B;y+X'@*n5j
　
q/z;I#e1~4{FOB Business ForumDocuments Against Payment (D/P)
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8A%f;T%h+a#?2W*GFOB Business ForumInstruction for documents to be released to the drawee only on payment - see Collections ?Introduction.www.fobshanghai.com/I2t5a3p&];{2x"A+M&l
　
6e'C3g"O"y0P0e:v[A Professional Business Forum]Documents of Titlebusiness forum,trade forum,business opportunity,Business China,Business India,Brazil business4D,w+y$S(k)G&O#{
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Documents that give their owner the right to the goods, i.e. Bill of Lading.business forum,trade forum,business opportunity,Business China,Business India,Brazil business R9h1h&P5b0y2B1u,x
　
0\,b8c8E%W.g:vFOB Business ForumDraft;t/v'P9L+u*I;d0e#K*t9Z
　
7n8e8] h,I!Gbusiness forum,trade forum,business opportunity,Business China,Business India,Brazil businessBill of exchange issued by an exporter and submitted to his bank for collection, or under a DC - usually submitted with attached shipping documents - not to be confused with a bankers draft which is sometimes used as a vehicle for reimbursement.
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Draweebusiness forum,trade forum,business opportunity,Business China,Business India,Brazil business8p9z3O%`$v&O5S-T#L9]-M
　
-Q(n8]6C7wFOB Business ForumParty on whom a bill is drawn and the one to whom presentation is to be made according to the collection order - the importer (NB: for DC bills, the drawee is usually the DC issuing bank).FOB Business Forum*u,H5f L4N:{ z2T2S
　
%s!w#r @7kwww.fobshanghai.comDrawer
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:Z+_'[-G%Q)}business forum,trade forum,business opportunity,Business China,Business India,Brazil businessThe exporter, who draws the Bill of Exchange/draft which in itself is a claim for payment.www.fobshanghai.com$o3M4c.t"s:i0E
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Due Datewww.fobshanghai.com5W*N0n-Q+D5W I
　
5u6l"c;n b)a&S8F4i%j1x"HFOB Business ForumMaturity date for payment  
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Expiry DateFOB Business Forum&q+D7U0O"V
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Latest date, usually in the country of the beneficiary, on which negotiation/payment of a DC can take place. business forum,trade forum,business opportunity,Business China,Business India,Brazil business9t0E:a)t8f
　
,y%z:M:H%?(q:SFOB Business ForumFinanced Bills
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Bills sent on collection in which the remitting branch has a financial interest.
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Foreign Bill Purchased (FBP)
!|;a3A+_1[#{$i'a"C6b-~business forum,trade forum,business opportunity,Business China,Business India,Brazil business　
7P7X1X0V-c6_-TFOB Business ForumA bill remitted to a correspondent bank in which the remitting branch is financing the exporter - see Financing Export Collections.
6O#@!R+X,e5L4J)Q3X"f.@FOB Business Forum　
+k9q(@3N$L*m5s6QFOB Business ForumForward Exchange Contractbusiness forum,trade forum,business opportunity,Business China,Business India,Brazil business+N!w#a$}1v-B+l
　
-D1K5x.g$M0?.s5v:q7z!vbusiness forum,trade forum,business opportunity,Business China,Business India,Brazil businessContract between the Bank and its customer to buy/sell a fixed amount of foreign currency at a future date at a specified rate. This could be for a customer to make payment under a DC or to sell the proceeds received from an export negotiation.
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Freightwww.fobshanghai.com+K9Q6?+f*\3O
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Goods OR the cost of transporting goods.
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General Average
&H;v N)d5M2a*d"Lwww.fobshanghai.com　
8A7L+i-p!u8`.j'Y[A Professional Business Forum]Loss which is the result of a sacrifice voluntarily made or an expense incurred; for the sole purpose of saving a ship and its cargo in face of a common danger (e.g. jettison of cargo to lighten a ship in distress). The loss is borne proportionately by ship and cargo owners according to their respective interests in the voyage.'H$[-A9y"H9W)g
　
7U8|*a5o$P/],U)_*OFOB Business ForumGross Weight[A Professional Business Forum](X"{3R&}7m$O+S z
　
1T;j:y&{$^,K&j/{www.fobshanghai.comThe weight of the merchandise in its shipping form, i.e. including all its packaging.  
)t5h/o4k |(r#P#eFOB Business ForumDC BillsFOB Business Forum;E(c#K,K:_7K2T8P
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Bills drawn under documentary credits.#W*L-["O)T&k!k8w-a$~%P%z0~
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Deferred Payment Credit (DPC)
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A DC which allows the nomination of a bank, or the issuing bank to effect payment against stipulated documents at a maturity date as specified or determinable from the wording of the credit.
2P8f%i1p*N1`www.fobshanghai.com　

Demurrage3J:a/B8].A#Q
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A charge made by a shipping company or a port authority for failure to load or remove goods within the time allowed.FOB Business Forum'R*a#L6R!F
　
#{5x$w2O/]3}&Mwww.fobshanghai.comDiscounting[A Professional Business Forum]7c/K1k6\%L,f*z*a3z*i-G:W7?
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Act of purchasing an accepted usance bill of exchange at an amount less than the face value.　 [A Professional Business Forum]4J {3w9x;c"s(c(E*k$]1a'J+Z
DiscrepancyFOB Business Forum&k3K'g:Q1L
　
1^%F,F/b&C4K-B ?+o9}www.fobshanghai.comAny deviation from the terms and conditions of a DC, or the documents presented thereunder, or any inconsistency between the documents themselves - see Negotiation under DCs.
&N/P!I9n,I(T+][A Professional Business Forum]　 [A Professional Business Forum]9S,w)w6j/J:c(P
Dishonour
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%Y,u#[#`#T$d[A Professional Business Forum]Non-payment or non-acceptance.
7z(p2U"o0y8A#]business forum,trade forum,business opportunity,Business China,Business India,Brazil business　 FOB Business Forum)K2F.{*d2A$V%f/N$` |
Documentary Credit (DC)[A Professional Business Forum]%k5Q:F7d:d0U"[
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A conditional undertaking by a bank to make payment, often abbreviated to credit. More precisely, it is a written undertaking by a bank (issuing bank) given to the seller (beneficiary) at the request of the buyer (applicant) to pay a sum of money against presentation of documents complying with the terms of the credit within a set time limit.4I/g8U7b,M0w/p)j3I

-d2@#M1f!a6y$E0J1r8J$P:b[A Professional Business Forum]DocumentsFOB Business Forum2o;W"L+D-[%Y2Z+n
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The characteristics and importance of the various documents associated with Import/Export operations are explained and illustrated in Deciding on Documents.
9M2i.l0[(_/{$v:X3M[A Professional Business Forum]　 FOB Business Forum6S)B/y0T.Q
Documents Against Acceptance (D/A)
$N!e,N7Z#j%fbusiness forum,trade forum,business opportunity,Business China,Business India,Brazil business　
9r.L5`!V2_+V7v0d9?6M'mFOB Business ForumInstruction for commercial documents to be released to the drawee on acceptance of the Bill of Exchange - see Collections ?Introduction.
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,G7k0o'`4}.~)k)o;Lbusiness forum,trade forum,business opportunity,Business China,Business India,Brazil businessInstruction for documents to be released to the drawee only on payment - see Collections ?Introduction.8M%n+o8t \0i8`7I
　
4s&t4`7m9X%jFOB Business ForumDocuments of Title[A Professional Business Forum]:~;p5P%l&u'y/E
　
1W0S5c,i%q-g(a2w#n!X5TFOB Business ForumDocuments that give their owner the right to the goods, i.e. Bill of Lading.
$S(x4A:p#B-E,[4G[A Professional Business Forum]　 www.fobshanghai.com5S-c-g!w9~7s"n
Draft
;d#l3E:K6u9n/B o6?　
3M*I8h8B6w2yFOB Business ForumBill of exchange issued by an exporter and submitted to his bank for collection, or under a DC - usually submitted with attached shipping documents - not to be confused with a bankers draft which is sometimes used as a vehicle for reimbursement.[A Professional Business Forum]5D!a(X.?6C;p;_:C
　 [A Professional Business Forum];Z7`8B*y,\(E,G4l1~
Drawee
$c!F)v1d;? X2b,}FOB Business Forum　 business forum,trade forum,business opportunity,Business China,Business India,Brazil business$b!S(l&^7a/Q!G8q9e%\
Party on whom a bill is drawn and the one to whom presentation is to be made according to the collection order - the importer (NB: for DC bills, the drawee is usually the DC issuing bank).
+a.P+V1i#V8]3V.~　
8Z%o7d-\(g7x)b!l#p1t4t$[[A Professional Business Forum]Drawer
-j8P C(p-B5r,owww.fobshanghai.com　 [A Professional Business Forum]-| D6A(f"I*p9q"P5T
The exporter, who draws the Bill of Exchange/draft which in itself is a claim for payment./a;q4@%j(d"M'D
　 [A Professional Business Forum]!b$@!A7@7R6B4~8q
Due Date
,Q-j/{:o(B6~7[www.fobshanghai.com　 FOB Business Forum&];[9G5P/p
Maturity date for payment  
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Expiry Date:M'l9n5a"U2z7S
　
7T8F+Q*`*O5U[A Professional Business Forum]Latest date, usually in the country of the beneficiary, on which negotiation/payment of a DC can take place. business forum,trade forum,business opportunity,Business China,Business India,Brazil business4Y ]2Z1X;e6u7[&l0U,B
　
/[7i+G6_8jFOB Business ForumFinanced Bills
.M2l%C.P;P1l5}www.fobshanghai.combusiness forum,trade forum,business opportunity,Business China,Business India,Brazil business!V6{1f'P(Z9Z
Bills sent on collection in which the remitting branch has a financial interest.FOB Business Forum!^,_9y7T4D(d5~#N/Q"m
　 www.fobshanghai.com0|3D(J:`:} }2x C7M
Foreign Bill Purchased (FBP)www.fobshanghai.com(S#Q%\0q*i1n
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A bill remitted to a correspondent bank in which the remitting branch is financing the exporter - see Financing Export Collections.FOB Business Forum.m8D)A s.w,t,v
　
#J&W ^1z8k8?www.fobshanghai.comForward Exchange Contract
,N5t']#`#e(?　 business forum,trade forum,business opportunity,Business China,Business India,Brazil business2p+i4a,j$c1c-r2T
Contract between the Bank and its customer to buy/sell a fixed amount of foreign currency at a future date at a specified rate. This could be for a customer to make payment under a DC or to sell the proceeds received from an export negotiation.business forum,trade forum,business opportunity,Business China,Business India,Brazil business"Z9U0H+?3]+k6Z
　 9S8{+Q-I2q#^7B'A
Freight
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,M/|5b*Y$I)Q[A Professional Business Forum]Goods OR the cost of transporting goods.
5a;Q3G3Y6E$L0i$P0V[A Professional Business Forum]　 $g*a6`+z-`
General Average
5D't!C5[-c!Q0fFOB Business Forum　 FOB Business Forum!v)m:Q,p,D6t
Loss which is the result of a sacrifice voluntarily made or an expense incurred; for the sole purpose of saving a ship and its cargo in face of a common danger (e.g. jettison of cargo to lighten a ship in distress). The loss is borne proportionately by ship and cargo owners according to their respective interests in the voyage.FOB Business Forum-l![!g!~.L#g!]
　 FOB Business Forum']!L Z4s%?'w,}/E-T
Gross WeightFOB Business Forum'h/}2i4b4h)Q2p.K;d9f
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The weight of the merchandise in its shipping form, i.e. including all its packaging.  FOB Business Forum(I:m1|'Y%r.`
ICC 322[A Professional Business Forum]!c-E6p,B3q,@+I7o*|
　 www.fobshanghai.com s#u5a-U/S"h:g4c!Y&z
Uniform Rules for Collections&_.s;V3q8a
　
5W$p&k8u;j6W9w3GFOB Business ForumICC 323FOB Business Forum ^9D&h/Y4d)g(v*|8A*@/p
　 www.fobshanghai.com(}:d7r;Z;C*V
Standard Forms for Issuing Documentary Creditswww.fobshanghai.com$c)w&Q2r4e"b2H'M4J
　
8A+u.n!u/f7L8X!BICC 420
!K0b&d1D8X1^:HFOB Business Forum　
+O;@7J&n,r$D!dwww.fobshanghai.comGuide to the Prevention of International Trade Fraud.business forum,trade forum,business opportunity,Business China,Business India,Brazil business%?1I,p4T:V*h:c)[
　 [A Professional Business Forum]6S$C.N*d$G,A6T
ICC 460FOB Business Forum2C6k4{1E&T+Q3\9o$v
　
7T)z5R9h5A)S[A Professional Business Forum]Incoterms 1990. Explains the 13 standard Incoterms.business forum,trade forum,business opportunity,Business China,Business India,Brazil business&L7f#Z*O"R2|3o
　 &G o:V)K.V)@2}
ICC 500business forum,trade forum,business opportunity,Business China,Business India,Brazil business;n/E%s"X+y%L*b0o
　 www.fobshanghai.com9~6R5V6f&A4F
Uniform Customs and Practice for Documentary Credits (1993 revision) replaced the previous ICC 400 as from 1 January 1994.
&M:h3^3|8P'^.Zbusiness forum,trade forum,business opportunity,Business China,Business India,Brazil business　
0T:`5O+e%~6VFOB Business ForumICC 522FOB Business Forum"C3c+R'N#]3U)p$h
　
(y q!|4{$E.N:s)l;MFOB Business ForumUniform Customs and Practice for Documentary Credits (1995 revision) replaced the previous ICC 322 as from 1 January 1996.
!Y*L,`/_6w*A4T,e[A Professional Business Forum]　
&q(Q/D4^+n$w#pFOB Business ForumImport License+z0a#y1B*R'v/c*l
　 www.fobshanghai.com-h!y/g9@*r,j4p-H+e
A permit issued by the importing country'S authorities in respect of goods subject to import licensing restrictions.+w%V2r(n"l&}4M,k;n3}3g+h9T
　
,T2O3E5A:a8UFOB Business ForumIncotermsFOB Business Forum:i9q!l/V1O
　 www.fobshanghai.com/@-Q.c6Y*i
Shipping Terms - see Introduction to International Trade.www.fobshanghai.com2M!F-a+M6p;|;B!]'F
　
9s7y#T(@6K*`www.fobshanghai.comIndemnity
.t5y0\2f7_,z-R0d[A Professional Business Forum]　
#~ K0D'g+i7]-r/~FOB Business ForumAlso known as Letter of Guarantee (L/G), it is an undertaking given in respect of discrepancies in documents presented under a credit. The beneficiary who issues the indemnity is primarily liable to repay funds received from the negotiating bank in settlement under the credit, if the negotiating bank cannot obtain reimbursement from the issuing bank as a result of documents being rejected by the applicant.
"M&H1}!E+\1k"d%Z0Uwww.fobshanghai.comFOB Business Forum y1v!p4r:m+w-U-g9c
Inherent Vice
9q+Q2|&R7G8d"e[A Professional Business Forum]　 FOB Business Forum(h,X @!|'c"Y5V1^8S
The propensity of a commodity to self-destruction which gives rise to a high insurance risk, therefore cover is given only after payment of an additional premium (e.g. fruit rots, coal-dust spontaneously ignites).
"t)u!e${5p%m(v!Tbusiness forum,trade forum,business opportunity,Business China,Business India,Brazil business　 www.fobshanghai.com5@1q+X9p#i%L4L$b
International Chamber of Commerce (ICC)[A Professional Business Forum]"G;|4G6U'C!U$b
　
3W)S;U.U0s$L;VThe international body which promotes and facilitates world trade, and which codifies world trade practices in various publications - see ICC Rules?under Introduction to International Trade.
1N:^&q'E J$?.W+RFOB Business Forum　

International Chamber of Commerce (ICC)business forum,trade forum,business opportunity,Business China,Business India,Brazil business'?*w$Q5G8U't
　
,_0?*p W)_.L+QThe international body which promotes and facilitates world trade, and which codifies world trade practices in various publications - see ICC Rules?under Introduction to International Trade.
6V/F3R!C6|3twww.fobshanghai.com　
6Z:O9B7r7i T9A(dFOB Business ForumIrrevocable Credit
+f!?;\1f!o5P(^.Y/E3]6^FOB Business Forum　 business forum,trade forum,business opportunity,Business China,Business India,Brazil business6C)]/D2e%p,\.V-P3T
Constitutes a definite undertaking of the issuing bank and the confirming bank, if any, to honour the credit provided the terms of the credit are observed. It may be advised to the beneficiary without engagement by the advising bank, and cannot be amended or cancelled unless the issuing bank, the confirming bank and the beneficiary agree.business forum,trade forum,business opportunity,Business China,Business India,Brazil business6B.n%o3N6y-}9[
　 [A Professional Business Forum]3D/I5\*i.V1P-_
Issuing Bank3e-O6Q8K.i#D5m
　 www.fobshanghai.com3o1F!S$I8E'L2s
The bank that opens a documentary credit at the request of its customer, the applicant. FOB Business Forum)k6L5X&_(G"X&Q
　
.`2y"D)I+c+y:H4W9TFOB Business ForumLetter of Credit (L/C)FOB Business Forum,B9g/s7C4L j+F
　
1}!X%Q)K&j&[7]American term for documentary credit. In the United States, the terms D/C can often be confused for documentary collection.0R1|9g2|(w2{,l#~
　 [A Professional Business Forum])P%D5N3L0g/k/q5F
Letter of Hypothecation
(@7y+]6f(Y&F6x0S1z R*y　
$s;Z0f7w3C/U!^A promise to hold goods as security taken from customers who are granted loans against goods imported on a collection basis.
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3I/~:?,{3s0\%F9WFOB Business ForumLoan Against Imports (LAI)business forum,trade forum,business opportunity,Business China,Business India,Brazil business0L t;\1@![6Y
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Loans granted to import customers for payment of bills. 　#Q9g5X.k&]1C2h1T t7{%p
　
3k3i(F1k8{,~.}[A Professional Business Forum]Master Credit
-a:K&Q(t/w9]3I5Z.M!yFOB Business Forum　 www.fobshanghai.com&q0e$N0V4P
In back-to-back operations, the original export credit against which the second credit is opened(c:x$x0H4i5~"Q9E#K
　 FOB Business Forum1a-f5H!O's(l:w
MaturityFOB Business Forum"Z7?){.E$i2V'Z*q+j
　
8Q;x S3K0}9o)T[A Professional Business Forum]Due date of payment of a usance bill or promissory note.　
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Negotiable/Non-Negotiable[A Professional Business Forum]"z0U(F/S9o7V,f

;q1p,]3R4I"B:^8L"o'B!Rbusiness forum,trade forum,business opportunity,Business China,Business India,Brazil business　
U&}!M&B8X6T+h6Ybusiness forum,trade forum,business opportunity,Business China,Business India,Brazil businessUsually used with regard to Bills of Lading: a negotiable B/L is a valid document of title, while a non-negotiable B/L is not - the beneficiary of a DC (the exporter) may send the importer a non-negotiable B/L for information.FOB Business Forum2f7Z0Z3~&e&c9_5o
　
4_#V8x1@)S;~;I!V.|,n4?Negotiation
&M:k5N9z:q5Nwww.fobshanghai.com　
2Z!A:L;x&yFOB Business ForumPurchase of drafts under a documentary credit which the issuing bank has undertaken to pay.
*G*f1u$?!M*_-D5n[A Professional Business Forum]　 business forum,trade forum,business opportunity,Business China,Business India,Brazil business'q&h2u!g(C
Net Weightbusiness forum,trade forum,business opportunity,Business China,Business India,Brazil business4q9[4C"e$b,],r:f
　 FOB Business Forum3|1~:g&@%r9[
The weight of the merchandise before any packaging.[A Professional Business Forum]!J,M5^:Z2T;p2L,M5s3l7Y
　 FOB Business Forum4|!z)[%}9X W"D;]/b
Non-DC Bills.i I,]"s;e8M:v"U
　
$X;O |$`,S;\:obusiness forum,trade forum,business opportunity,Business China,Business India,Brazil businessBills not drawn under DC i.e. sent on a collection basis (D/P or D/A). In common usage we distinguish between Non DC bills which are financed collections and DCs which are non-financed.FOB Business Forum6q/d3X#m5]
　 FOB Business Forum p&B'])P8A'?$Q
Non-Financed Bills%I1|:M9T+a,s8G
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Bills sent on collection in which the remitting branch has no financial interest.business forum,trade forum,business opportunity,Business China,Business India,Brazil business.m;T$P/z:]-e0b-g'w
　
4]1f%E"N:j-A'k,k(hbusiness forum,trade forum,business opportunity,Business China,Business India,Brazil businessNoting
$J3P0n6S s @ C0k-h[A Professional Business Forum]　 business forum,trade forum,business opportunity,Business China,Business India,Brazil business3F)s!\.k:i(J9A
The first stage in protest of a dishonoured bill: if instructed to protest for non-payment/non- acceptance, the collecting bank must send the bill to a notary public who will represent it to the drawee on the same day it was refused, or the next business day. If the drawee still refuses the bill the notary public notes on the bill: the amount of his charges, the date and his initials. The reason for refusal is shown on a note attached to the bill. The bill is then protested - see Protest.　
5n*^)R,f*PFOB Business Forum　
&F'[1B$l8I#^(V[A Professional Business Forum]Opener
7s2l#h)K-Nbusiness forum,trade forum,business opportunity,Business China,Business India,Brazil business　
(|(m)_,k,E7s9P#E;R!owww.fobshanghai.comSee Applicant.business forum,trade forum,business opportunity,Business China,Business India,Brazil business)R2J6[)f3n'U$c6?:d2v;k
　
/U/l.V;{.j3J t#@2b[A Professional Business Forum]Opening Bank
0Q6W;l+d$?7O&v,U"obusiness forum,trade forum,business opportunity,Business China,Business India,Brazil business　 FOB Business Forum5l,[5T9Y!N7l:\(n.a9U$]4g
See Issuing Bank.
/j0M2e,~!R \[A Professional Business Forum]　
2R4t0T%s"C(S'k5x mOrder (To)
0l%Q9O2[8j/o*z:uFOB Business Forum　 www.fobshanghai.com6d(E9p4k&_3I
The phrase To Order is sometimes shown on Bills of Lading against consignee: this means that the Bill of Lading must be endorsed in blank by the shipper (i.e. not to any particular named party which makes it bearer document and it becomes transferable by delivery.) www.fobshanghai.com5G)_.b/?;W6L
　
9V7g7{6D+M%K:];W#h#j[A Professional Business Forum]Packing Creditwww.fobshanghai.com0`&K;p7a;J!n#h:@0})R.F
　 FOB Business Forum I+x2^(h)l8y,Y&J
A loan given to the beneficiary by the bank to enable him to purchase raw materials. The beneficiary is usually requested to deposit the DC with the bank as security.
'G3j'\0j:L$N&m(p9b[A Professional Business Forum]　
[-e0g!h8\-c1r7d1l7tPast Duewww.fobshanghai.com!I6Q(c:m#s4p*e"H5u-K1F
　 [A Professional Business Forum](r-z&s2~7a0a
Bill or loan that has not been paid on the maturity date/due date.business forum,trade forum,business opportunity,Business China,Business India,Brazil business$v3F!o7@6v
　 www.fobshanghai.com&]1J;R,G:z%P+Z
Paying Bank[A Professional Business Forum]9u)v6?3R:z q8w3h5x!t:U.n
　 FOB Business Forum,h6d4w%U'f5Q%d'q5C2Z
The bank that makes payment to the beneficiary of a payment DC after presentation to it of documents stipulated in the DC.
'Q g6d;d9]/X7n+q8a M Xwww.fobshanghai.com　
-Y ? q:f&T8x1^&[FOB Business ForumPerils of the Seas
8}!n.\(G(`-K:H-e)r1h!iFOB Business Forum　
0F$q,t5h6q:Y)FThey are accidents or casualties of the sea. The ordinary actions of the winds and waves are not included. Heavy or tempestuous weather on a voyage is of sufficient violence to constitute a peril of the sea.business forum,trade forum,business opportunity,Business China,Business India,Brazil business5m9J#z1W1V
　 www.fobshanghai.com6c$t A*O6i%B(`'Y
Power of Attorney
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(s)A#P!P3x&\9q:]6n&n$Fbusiness forum,trade forum,business opportunity,Business China,Business India,Brazil businessAuthority given to one party to act for another.FOB Business Forum#D*m;B(@'s t'})k9X'_ i
　
/o5b8a(x)`(`,e+n[A Professional Business Forum]Presentationwww.fobshanghai.com%C*n%M&O!b!I$R5w5\+x0q
　
"f.s0z5L6X)g(o&v+\.MFOB Business ForumAct of requesting the importer??s payment/acceptance of an import bill. - See Handling Import Collections.
4@4j!q0q1Y0o(?www.fobshanghai.com　
/G E1a%W$g&O&H9}business forum,trade forum,business opportunity,Business China,Business India,Brazil businessPresenting BankFOB Business Forum*{3y2g*R-A0X;a8h&O"^
　
"W5u:O;U6M1`0[*k[A Professional Business Forum]The bank that requests payment of a collection bill - may be the Collecting Bank or its nominated branch or local correspondent, which is better placed to contact the importer.
;O,~/i8S,F$_5~2@$X*n7|+[-B7T:_.B0K:L3D
　
.q%M/T'L$l2Q:z2r5z+SFOB Business ForumPrincipal
%P)f4r&A6g*w$O4}0_FOB Business Forum　 www.fobshanghai.com-Q.I-{ n5E8D)@.c3c
The exporter in collection transactions, being the initiator of the transaction, whose instructions are followed at all stages (may be used to refer to any customer who initiates a transaction e.g. the opener of a DC).FOB Business Forum.f K$U&p*E/c/i
　 FOB Business Forum.Z!_9@ f'X7e9\5u9W$i
Promissory Note
;M4s"A*d#q'W　 )N9]1n%}9`$r)D.j*c;q
A signed statement containing a written promise to pay a stated sum to specified person at a specified date or on demand.www.fobshanghai.com-e,j5C5[$~)\)m3X8P

'T2n(C)n-|-{-J;J-A4W0QFOB Business Forum　 business forum,trade forum,business opportunity,Business China,Business India,Brazil business4t;u"v#J9h:~%E.P/U1K
Protestbusiness forum,trade forum,business opportunity,Business China,Business India,Brazil business7~*P+A.`&E,N*W#Z0h(I
　
2X(i&}6V8Obusiness forum,trade forum,business opportunity,Business China,Business India,Brazil businessThe formal representation of a dishonoured bill of exchange: the bill is presented by a notary public to the drawee - if refused again, it is noted?- see noting. The notary public then issues a formal protest, an official certificate that the bill has been refused: the drawer can use this certificate to sue the drawee in court.
+q#M9i,M7s,r Nbusiness forum,trade forum,business opportunity,Business China,Business India,Brazil business business forum,trade forum,business opportunity,Business China,Business India,Brazil business/F0o9Y.H!X.C*Q
Recoursewww.fobshanghai.com6r6Z!p w/C;V,K"H*G
　
(\/\4j N+I'Fwww.fobshanghai.comThe right to claim a refund from another party which has handled a bill at an earlier stage.$\'s*f.j!v3S
　 :t5x;g$A*V:B5Y6k
Red Clause Credit[A Professional Business Forum]2u/j1j8N7h2s
　 8p3@0g'b%p4? Z0I7G
A credit with a clause which authorises the advising bank to make an advance payment to the beneficiary - see special DCs.
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)[,I&F%`0`"zbusiness forum,trade forum,business opportunity,Business China,Business India,Brazil businessReimbursing Bank
;y%S6e*F8@-Ubusiness forum,trade forum,business opportunity,Business China,Business India,Brazil business　 [A Professional Business Forum]6c.n(K%V.}
The bank nominated by the DC issuing bank that will pay the value of the DC to the negotiating/paying bank.
)G.Y,w4D7cFOB Business Forum　 business forum,trade forum,business opportunity,Business China,Business India,Brazil business%V0^*v.P2R)t3t'X
Remitting Bank
)z${9K,i5uFOB Business Forum　 business forum,trade forum,business opportunity,Business China,Business India,Brazil business-E8i$t.C0z+T%U
The exporter's bank in collection transactions, which remits the bill to the collecting bank.FOB Business Forum+O C&r.h3E1n

(Z#^-W-[2X'k&H5c m b;uThe exporter's bank in DC transactions, which dispatches the documents to the issuing bank.
(y0e1S;T/k3v%o6q7sbusiness forum,trade forum,business opportunity,Business China,Business India,Brazil business
+o*G6o&e8l6s,[,G!nbusiness forum,trade forum,business opportunity,Business China,Business India,Brazil business　 FOB Business Forum9T!V$u'X1?
Retirement
6v;s/m;v9@/_"d(`$?8X9pwww.fobshanghai.com　 /X/@,]:D-g
The act of paying or settling an outstanding bill or import loan; i.e. payment by the importer to the Bank.[A Professional Business Forum]*`&~ Q.o,g*R*r$X4g6W
　
3`2f._#N+}(~!O3B(g+l0uRevocable CreditFOB Business Forum.r"X%]!m:N*L0e0`
　
,C.Q1m3A3j3Kbusiness forum,trade forum,business opportunity,Business China,Business India,Brazil businessOne that may be amended or cancelled without notice to the beneficiary.
#Y!z0V(m0M!T'uFOB Business Forum　
4L+j-Q%T1c.h1Sbusiness forum,trade forum,business opportunity,Business China,Business India,Brazil businessRevolving Credit
2v7H.]0u0[*u#x;A0b&xwww.fobshanghai.com　
*H,v"O,v7g7A-^9bFOB Business ForumA credit automatically reinstated after each drawing or upon receipt of authorisation from DC issuing bank, with limits as to the duration of the facility and as to the (cumulative or non-cumulative) amount involved for each drawing - see Special DCs. FOB Business Forum8P2Y;O;J6J#H H"z
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Schedulebusiness forum,trade forum,business opportunity,Business China,Business India,Brazil business;i%R"D,s-I2\
　
)D7h'h3H!p#r;?0H(q7uFOB Business ForumThe Remitting/Negotiating Bank's letter covering a bill sent to the Collecting/Issuing Bank, which lists the documents attached and gives collection and/or payment instructions.
7C$@4l*v&l+E4E$A3WFOB Business Forum　 business forum,trade forum,business opportunity,Business China,Business India,Brazil business-I#|.s'Y+h*g1H0k'l
Self-Liquidating
2E$N'J"@*p$]www.fobshanghai.com　
/Y(o4U4a5h"G*[2pA transaction is said to be self-liquidating when there is a known source of funds available for its settlement on due date.
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)M:B;L%L9jFOB Business ForumShipment Date c8R,[.v/H!K/Q3v/Q
　
2B'I9u${;v"Rwww.fobshanghai.comThe date inserted on the bills of lading evidencing goods received on board is regarded for documentary credit purposes as being the date of shipment.
9T0z:B"U*b1F9x H8D*s:x　 www.fobshanghai.com:w"z*@/H9v(U'l'@'?(z
Shipper
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See consignor
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Shipping Guarantee (SG)[A Professional Business Forum]7y,w4m3n'R/z7N'S
　
6X.W*D%D;e.w*Y$kbusiness forum,trade forum,business opportunity,Business China,Business India,Brazil businessGuarantees of this nature are required to enable customers to obtain goods before the arrival of the documents of title, and are issued to the shipping companies by the Bank against an undertaking to forward the bills of lading when they are received. The Bank normally take 100% cash margin against the value of the goods if the customer does not have T/R facility.　 6L+a%c!?&B
Shipping Terms[A Professional Business Forum] r0L.b(f5k7L
　
c)i4K,G/a'z9@:z/@FOB Business ForumSee Incoterms
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$[*z%a#G6K1mbusiness forum,trade forum,business opportunity,Business China,Business India,Brazil businessSight"z1U'Y%P8c,V,Z
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A bill payable at sight is payable on presentation to the drawee i.e. on demand.
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Snags
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*R+L)~!I4G.W[A Professional Business Forum]Irregular bills; import and export.www.fobshanghai.com7g1@&^-D8?7_3|7b"N*O)q
　
4R,~&Y9h3s G$L&E;e4u2N7^Standby Credit
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5?5E-C,L&k[A Professional Business Forum]This may be established as security for facilities granted at another branch or bank, usually to a subsidiary of the DC applicant. - see Special DCs.FOB Business Forum.F)u7@/p5x9l+[
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Status Report
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%@-P!f,S*B"mbusiness forum,trade forum,business opportunity,Business China,Business India,Brazil businessProduced by a bank's TCI department or a credit information bureau, giving details of the creditworthiness and business background of traders and manufacturers.
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SubstitutionFOB Business Forum.W/U*L:@6T*c4r8P(|$@#|
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The act whereby the prime beneficiary substitutes his own documents i.e. invoices and drafts, in back-to-back and transferable credit operations prior to negotiation of the master credits.FOB Business Forum.[6?;J1^&q,}%?
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Tenor
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!e(W-@,Y m X7Z G9TTerm or Period of credit granted by the drawer. See Usance Bill.business forum,trade forum,business opportunity,Business China,Business India,Brazil business5@2M+M(]1b0m
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See Chaser.
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"H*H3E%~7p8x*|!rTrade and Credit Information (TCI)
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!b4Q"w5n#`7|6i o[A Professional Business Forum]A bank department that prepares and distributes status reports on its own customers, and maintains records of traders and manufacturers with whom its customers deal.
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Transferable Credit
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Permits the beneficiary to transfer all or some of the rights and obligations under the credit to a second beneficiary or beneficiaries - see Special DCs.
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TransfereeFOB Business Forum&`5D5g*U(j/O3x5w
　
3F D,y/c0~.p1q7X&x[A Professional Business Forum]A party (2nd beneficiary) to whom a transferable credit is transferred in whole or in part.
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(E.i&r8{"f0@!|(Z"MTransferorFOB Business Forum2s:a,X0M3Y5{3B#a8Y
　
*C"e:S#y8h1GA party (1st beneficiary) at whose request a transferable credit is transferred to a second beneficiary in whole or in part.FOB Business Forum+b%V"Y:A!^3E'@
　
!r;D'[&M1B*T:\.U[A Professional Business Forum]Uniform Customs and Practice for DCs
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See ICC 500FOB Business Forum%k&p/V)[/t4Z/H-T
　
!D.H/V%V(n;T/uUniform Rules for Collections
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*y"y*J6} a7m v0a0cwww.fobshanghai.comSee ICC 522FOB Business Forum:Q+D0v5O3O,o
　
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A Bill of Exchange which allows the drawee a term or period of credit (this period is also called usance).FOB Business Forum6K,A'd _(t*W$P B ^
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The term is usually stated in days (e.g. 30 days) or months and starts either from the date of the bill (e.g. 30 days date) or from the date of bill of lading, or from sight by the drawee (e.g. 30 days sight) which in practice means from the date of acceptance.0Z2I$}2t6u+y(R9N+x;}3~
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An essential feature of acceptance credits and D/A collections. [A Professional Business Forum],d6W8F.M+Q7[2Q/z-Q
　
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3L'l#D/x-m;P.J,]8M"D9sbusiness forum,trade forum,business opportunity,Business China,Business India,Brazil businessTo relinquish a right: used in collections with BC charges and/or interest to be collected from the drawee: these can be waived in certain circumstances as set out in ICC 522.

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