steamship guarantee
Definition
Written undertaking by a bank to indemnify a carrier from the liabilities arising from releasing a shipment without the necessary shipping documents. Banks issue this guarantee to their creditworthy customers who either have not received the documents or have lost them.
Popular 'Banking, Commerce & Finance' Terms
steamship guarantee in the news
Loading...
This content can be found on the following page:
http://www.businessdictionary.com/definition/steamship-guarantee.html
