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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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Advisory capacity

A term indicating that an agent or representative is not empowered to make definite decisions or adjustments without approval of the principal represented. This is the opposite of without reserve.

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