Term of Day
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letter of credit (L/C)
sent by the
where time is short. It notifies the
that the named
has opened an L/C of a specified
for a named
(beneficiary), and usually includes the
will follow" or words to the effect. Depending on the
, a preadvice may or may not irrevocably commit the issuing bank to actually
the said L/C. Therefore, the advising bank generally does not issue an
advice of credit
but only notifies the
of preadvice so that he or she (if willing) may proceed with the
of the buyer's
Also called preliminary
letter of credi...
pro forma invoi...
net present val...
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