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Français1. Confirmation of receipt of a purchase order. 2. Confirmation sent by a bank confirming receipt of a collection. ACP Countries. African, Caribbean and Pacific countries is a group of countries with preferential trading relations with the EU under the…
Read MoreAdvance payment
Paying or part-paying a supplier before goods or services are delivered. Advance payments may be used to negotiate a reduced price or to cover initial supply costs.
Read MoreAdvance payment guarantee
A guarantee that advance payments will be returned if the party that received such payments does not perform its part of the contract.
Read MoreAdvised letter of credit L/C
A letter of credit whose terms and conditions have been confirmed by a bank. See letter of credit.
Read MoreAdvising bank
The bank that notifies the exporter of the opening of a letter of credit in his or her favour. The advising bank, usually located in the exporter´s country, fully informs the exporter of the conditions of the letter of credit…
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