Español
FrançaisThe difference between a country´s total merchandise exports and imports for a specific time period. If exports exceeds imports, a country is said to have a favourable balance of trade (trade superavit); if not, the trade balance is unfavourable (trade…
Read MoreBank acceptance
A draft accepted by a bank usually for the purpose of financing the sale of goods to or by the bank´s customer. The bill may be drawn , for example, by an exporter on the importer´s bank and be sold…
Read MoreBank draft
A payment order from a bank, similar to a cashier´s cheque. A bank draft is considered cash and cannot be returned unpaid.
Read MoreBank guarantee
A contract between a bank (as guarantor) and a beneficiary, in which a bank commits itself to pay a certain amount of money under certain specified conditions. A demand bank guarantee is one in which the bank agrees to pay…
Read More
