Glossary - documentary credits

Here you can find an explanation of relevant words and expressions used in relation to documentary credits.

Term	Explanation
About	Used in connection with amount or quantity, it means +/- 10%
Acceptance	An accepted draft
Advise	To forward a documentary credit or an amendment to a documentary credit to the beneficiary
Advising bank	The bank (other than the issuing bank) that forwards the documentary credit to the beneficiary
Air waybill (AWB)	Air transport document
Applicant	The party on whose behalf a documentary credit is issued
Approximately	See About above
Assignment	Signing over the documentary credit amount, either wholly or partly, to another party, for example a subcontractor
At sight	Payment on a sight basis (no credit time)
Available with	The bank where the documents must be presented
Beneficiary	The party in whose favour the documentary credit is issued
Bill of lading	Sea transport document

Words and expressions in international trade

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