In a letter of credit transaction, the bank that: receives and examines the seller´s documents for adherence to the terms and conditions of the letter of credit, gives value to the seller, so long as the terms of the credit…
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In banking, the action by which a negotiable instrument is circulated (bought and sold) from holder to another. In letter of credit transactions, the examination of the seller´s, documentation by the negotiation bank to determine if they comply with the…
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A bank account held by a bank with its foreign correspondent bank, in the currency of the foreign country.
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