Part I International settlement terms

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Acceptance

The act of giving a written undertaking on the face of a usance bill of exchange to pay a stated sum on the maturity date indicated by the drawee of the bill, (usually in exchange for documents of title to goods shipped on D/A terms) - see Collections Introduction.

Acceptance Credit

A documentary credit which requires the beneficiary to draw a usance bill for subsequent acceptance by the issuing bank or the advising bank or any other bank as the credit stipulates - see Documentary Credits.

Accommodation Bill空头汇票

In the context of fraud, a bill drawn without a genuine underlying commercial transaction.

Accountee

Another name for the applicant/opener of a documentary credit i.e. the importer = the person for whose account the transaction is made.

Advice of Fate拒付通知

The Collecting Bank informs the Remitting Bank of non- payment/non-acceptance or (for D/A bills) of acceptance and the bill maturity date - see Handling Import Collections.

Advising

Act of conveying the terms and conditions of a DC to the beneficiary. The advising bank is the issuing bank agent, usually located in t