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FrançaisAn advance import deposit is a requirement that the importer should deposit a percentage of the value of the import transaction before receiving the goods (e.g. payment of 50% of the transaction value is required three months before the expected…
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 MoreAdvice of shipment
A notice sent to a local or foreign buyer advising that shipment has gone forward and containing details of packing, routing, etc. A copy of the invoice is often enclosed and, if desired, a copy of the bill of lading.
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.
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