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.
References in periodicals archive ?
Once the LC is reviewed and approved by the advising bank, it's sent to the seller, who can present the documents back to a negotiating bank, with whom the seller ideally has a relationship.
Red-clause L/Cs enable an exporter to obtain pre-shipment finance, which is a percentage of the L/C amount, from the advising bank.
Ms Betts specialises in finance law, advising banks and asset-based lenders on a wide range of transactions.
When the L/C has not been confirmed, there may be a clause restricting the handling of documents to the advising bank.
An advising bank may elect to undertake a variety of additional functions, which will be discussed in a later commentary.
The launch of the solution that uses social identity provided by the Indian government, comes at a time when the Indian central bank recently issued a circular advising banks to use biometric authentications for digital transactions.
Central Bank Governor Valiollah Seif issued a directive Monday advising banks and financial institutions they "can have financial and business relations with all individual and institutional entities, regardless of whether or not their names are listed under sanctions.
Green specialises in all aspects of private client law providing advice to individuals on wills, trusts, inheritance tax and estate planning as well as advising banks, insurance companies and professional trustees.
Mr Blair can afford to soft pedal on money making after earning pounds 20million last year through speaking engagements as well as advising banks and foreign governments.
He will also be advising banks, lawyers and major financial institutions.
Ms Armstrong, who joins after fours years at DLA, has extensive experience in advising banks, financial institutions and borrowers on real estate finance transactions and restructurings.
Having been involved in the Islamic finance industry for over 30 years, Mahmood has extensive experience in advising banks on Strategy, Governance and Sharia'a aspects of product structuring and documentation.