A B C D E F G H I K L M N O P R S T U V

Advance 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.

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Advance 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.

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Advising 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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