A draft to which no documentation has been attached.
A system in which exchange rates are determined by market forces rather than by government intervention or restrictions. See also dirty float; floating exchange rate.
A letter of credit against which the beneficiary of the credit may draw a bill of exchange without presentation of documents. See letter of credit.
A document evidencing cargo laden aboard a vessel with no exceptions as to cargo condition or quantity. See bill of lading.
A receipt containing no damage or shortage notations.