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Home > Terms > English, UK (UE) > Advising bank
Advising bank
A bank, operating in the exporter's country, that handles letters of credit for a foreign bank by notifying the export firm that the credit has been opened in its favor. The advising bank fully informs the exporter of the conditions of the letter of credit without necessarily bearing responsibility for payment.
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- Part of Speech: proper noun
- Synonym(s):
- Blossary:
- Industry/Domain: Economy
- Category: International trade
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