negotiation credit definition

negotiation credit

Documentary credit where the issuer expressly indicates the credit is available by negotiation, or where its issuer's obligation extends to its drawers, endorsers, and bona fide holder for value for drafts drawn under it. Erroneously also called negotiable credit. See also straight credit.

negotiation credit is in the Banking, Commerce & Finance and International Trade & Relations subjects.

negotiation credit appears in the definition of the following term: negotiable credit

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