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Reimbursing bank

The bank named in a letter of credit from which the paying, accepting or negotiating bank may request cover after receipt of the documents in compliance with the letter of credit. The reimbursement bank is often but not always, the…

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Reinsurance

Reinsurance occurs when multiple insurance companies share risk by purchasing insurance policies from other insurers to limit the total loss the original insurer would experience in case of disaster. By spreading risk, an individual insurance company can take on clients whose…

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