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 ?
Terzian told The Daily Star Tuesday that the contracts, though vague, required the authority to pay the municipalities their dues based on their financial statements.
If the NBP has liabilities of their pensioners then this is the responsibility of the bank's authority to pay arrears from their own profit, not the profit of public shareholders.
As the hearing underway, Chief Justice of Pakistan (CJP) Mian Saqib Nisar expressed displeasure over what he termed a 'frivolous petition' filed by NAB and ordered the NAB authority to pay Rs20,000 as fine.
Zamalek's financial committee also reached an agreement with the Social Insurance Authority to pay LE 10 million out of the LE 28 million debt.
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.
The networking website in its reply told the Punjab Revenue Authority (PRA) that it did not need any kind of registration with the Authority to pay sales tax as it was operating from outside Pakistan.
Last June, Wonga agreed with the Financial Conduct Authority to pay PS2.6 million in compensation for the letters it sent to 45,000 consumers from nonexistent law firms.
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".