negotiating bank definition

negotiating bank

In documentary credit, usually the beneficiary's bank which agrees to pay the beneficiary by purchasing a negotiable instrument (importer's or buyer's draft). Also called accrediting party.

negotiating bank is in the Corporate, Commercial, & General Law and International Trade & Relations subjects.

negotiating bank appears in the definitions of the following terms: cable for authority, silent confirmation, accrediting party, documents sent on approval, advising bank, shipper's indemnity and letter of credit (L/C)

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