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Advising Bank

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Advising bank
Corresponding bank in the beneficiary's country to which an issuing bank sends a letter of credit.

Notifying Bank
A bank in a foreign country to which another bank in the domestic country sends a letter of credit on behalf of a client. The notifying bank honors the letter of credit and transfers requested funds to the client. A notifying bank is also called an advising bank.


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Byline: Emma Stone POLICE are advising bank customers to be vigilant after a suspected cardcloning device was discovered attached to a cash machine in Warwick.
Ahmed Barakat, Managing Partner of Al-Sarraf & Al-Ruwayeh, said: "Our wide area of expertise, from advising banks, investment companies, major construction and other multinational corporations on a wide range of legal issues, negotiating high value and specialized contracts, and representing corporate clients in complex litigation and arbitration matters, gives us a high level of qualification for the role we will fulfill in the production of OBG's publication.
The America-based bank is the issuing bank and the Korea-based bank is the advising bank.
 
 
 
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