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FrançaisA bond or guaranty, which has been issued as security for one party´s bid. If that party, known as the principal, wins the biding process and then fails to take up the resulting contract, the beneficiary may obtain payment under…
Read MoreBilateral trade agreement
A formal agreement involving commerce between two countries. Such agreements sometimes list the quantities of specific goods that may be exchanged between participating countries within a given period.
Read MoreBill of adventure
A written certificate used in goods that are shipped under the name of a merchant, shipmaster, or shipowner. It certifies that the property and risk in the goods belong to a person other than the shipper and that the shipper…
Read MoreBill of exchange
An unconditional order in writing, signed by a creditor (drawer) such as a buyer, and addressed to another person (drawee), typically a bank, ordering the drawee to pay a stated sum of money to yet another person (payee), often a…
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