The bank designated in the Letter of Credit to reimburse the "available with" Bank which submits payment claims under the Letter of Credit.
In a letter of credit transaction, the bank with which the issuing bank maintains an account and which is authorized by the issuing bank to charge that account to pay claims received from the negotiating bank for documents that have been presented.
The bank that the DC-issuing bank has named to pay the value of the DC to the negotiating/paying bank.
In a letter of credit, a correspondent bank of the issuing bank that is designated to make payments on behalf of the issuing bank to the negotiating or claiming bank.
The bank nominated by the issuing bank of a documentary credit that will pay the value of the redit to the negotiating/paying bank when reimbursement is required.
Bank specified as a source of funds in a letter of credit transaction.
A letter of credit term denoting a bank which a letter of credit issuing bank has designated to be a payor of monies to a negotiating, accepting, or paying bank under the letter of credit transaction.
Normally a third party bank chosen by the issuing bank to honor claims made by the paying/negotiating bank under a letter of credit.
