Availability

In letters of credit, refers to the availability of documents in exchange for payment of the amount stated in the letter of credit. Availability alternatives are: By sight payment: payment on receipt of the documents by the issuing bank or…

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Aval

A guarantee notice that a third party (other than the drawee) places on a draft. This is used when a buyer´s credit is in itself not sufficient to justify a sale, and a more creditworthy party is willing to guarantee…

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