A B C D E F G H I K L M N O P R S T U V
Pa Pe Po Pr Pu
Pre Pri Pro

Pre-advice

In letters of credit, at the request of an applicant, the issuing bank may give a pre-advice of issuance and/or amendment of the letter of credit. A pre-advice is usually marked with a reference such as “full details to follow”….

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Presentation date

The date on which compliant documents were given to the issuing bank or any other institution permitted under a letter of credit.

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Presenting bank

In bank collections, the collecting bank that deals directly with the drawee; usually is the drawee´s bank of the account.

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Principal

1. In international contracts, an individual or legal entity who authorizes another party (agent, sales representative) to act on the principal´s behalf. 2. In bank collections, the party entrusting the handling of a collection to a bank.

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Promissory note

An unconditional written promise to pay a specified sum of money on demand or at a specified date to, or to order of. a specified person, or to the bearer. Promissory notes are negotiable instruments and perform more or less…

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