Authority to Pay

Authority to Pay

In international commerce, notification given by an importer's bank to a seller stating that it (the bank) will accept a bill of exchange from the seller within a certain period of time to pay for a good. Authority to pay documents are used in East Asian countries, most notably in Japan. See also: Authority to purchase.
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References in periodicals archive ?
Zamalek's financial committee also reached an agreement with the Social Insurance Authority to pay LE 10 million of the LE 28 million.
He called on, in a press statement today, the officials in the executive authority to pay attention to their duties and not to interfere in the legislative and judicial authorities of both institutions.
Last June, Wonga agreed with the Financial Conduct Authority to pay PS2.
The residents demanded from concerned authority to pay attention towards this grave otherwise they would start protest demonstration.
Third, the VA travel reimbursement is paid with federal funds, and payment must now be made by electronic fund transfer (EFT), I believe that eligible VA patients should be exempt from the EFT mandate and the VA should have the authority to pay travel reimbursements, in cash, on the same day as the patient's appointment.
The farmers have been organising demonstrations for several months demanding the increased 64 per cent compensation the Allahabad High Court had ordered Greater Noida Authority to pay them for their land.
Every year and just before Christmas where rent is normally paid directly to the landlord or managing agent, tenants in receipt of either housing benefit or local housing allowance, will put in a request to the local authority to pay them instead as is their right.
CAERPHILLY council could be the next Welsh local authority to pay its lowest paid staff a "living wage".
The lender has reached a voluntary agreement with City watchdog the Financial Services Authority to pay the redress because wording in its mortgage offer documents had the potential to cause confusion.
Randy Koontz, a former financial adviser with Morgan Stanley who now works at a Raymond James office in Rogers, was ordered by the Financial Industry Regulatory Authority to pay back a $94,000 promissory note, plus interest.
His plan underwent numerous revisions before legislators in May passed a bill requiring the loan authority to pay $350 million to the state over the next six years, the vast majority of which is to go to college buildings.
The Department issues purchase cards (Citibank Visa or MasterCard) to designated employees under a delegation of purchase authority to pay for certain type of purchases for office and copier supplies, maintenance, books and subscriptions, and repair of property and equipment (other than building property).

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