Deferred Payment Credit (DPC)

A DC which allows the nomination of a bank, or the issuing bank to effect payment against stipulated documents at a maturity date as specified or determinable from the wording of the credit.

Demurrage

A charge made by a shipping company or a port authority for failure to load or remove goods within the time allowed.

Discounting

Act of purchasing an accepted usance bill of exchange at an amount less than the face value.

Discrepancy

Any deviation from the terms and conditions of a DC, or the documents presented thereunder, or any inconsistency between the documents themselves - see Negotiation under DCs.

Dishonour

Non-payment or non-acceptance.

Documentary Credit (DC)

A conditional undertaking by a bank to make payment, often abbreviated to credit. More precisely, it is a written undertaking by a ba