F

Financed Bills

Bills sent on collection in which the remitting branch has a financial interest.

Foreign Bill Purchased (FBP)

A bill remitted to a correspondent bank in which the remitting branch is financing the exporter - see Financing Export Collections.

Forward Exchange Contract

Contract between the Bank and its customer to buy/sell a fixed amount of foreign currency at a future date at a specified rate. This could be for a customer to make payment under a DC or to sell the proceeds received from an export negotiation.

Freight

Goods OR the cost of transporting goods.

G

General Average