The bank to which the Issuing Bank sends the Letter of Credit, with instructions to notify the Exporter (Beneficiary).
In relation to Letters of Credit: it is the bank that advises/passes the Letter of Credit to the Beneficiary, who is normally the seller/exporter.
The bank which notifies the seller (exporter) that a letter of credit has been opened by the buyer (importer) for the specified trade transaction. The term is used in trade finance. (Please note: advising banks do not guarantee payment while a confirming bank does. A bank can be both the confirming and advising bank, in which case payment would be guaranteed. However, these roles can also be handled by two different banks.)
Bank that receives a letter of credit from the issuing bank for authentication and delivery to the beneficiary. The advising bank is usually a correspondent of the issuing bank located in the vicinity of the beneficiary.
Bank operating in an exporter's country that handles letters of credit (see Letter of credit) for a foreign bank by notifying the exporter that the credit has been opened in its favour. The advising bank lets the exporter know exactly what the conditions of the letter of credit are but isn't necessarily responsible for payment.
a bank that independently promises that it will pay, accept, or negotiate a letter of credit when the documents specified in the credit are presented to it and the other terms and conditions of the credit have been complied with
1. A bank that gives notification of the issuance of credit by another bank; 2. Usually the beneficiary's bank in transactions involving a letter of credit. The issuing bank sends the letter of credit through this bank, sometimes referred to as a notifying bank. The payment then goes to the beneficiary.
The bank, usually but not necessarily in the beneficiary's country, through which advice of the letter of credit is sent by the issuing bank.
Bank that handles Letters of Credit (L/C) for a foreign bank by notifying the seller that the buyer has opened a L/C in their favor. The advising bank fully informs the seller of the conditions of the Letter of Credit.→ Confirmed Letter of Credit
Bank, usually in the country of the seller, whose primary function is to authenticate the letter of credit and advise it to the seller.
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.
In transactions involving letters of credit (L/C), the advising bank is the bank advising the beneficiary (exporter) that a L/C has been opened in its favour.
An 'advising bank' is a correspondent of a bank which issues a letter of credit, and, on behalf of the issuing bank, the advising bank notifies the beneficiary of the terms of the credit, without engagement on its part to pay or guarantee the credit.
A bank operating in the seller's country, that handles letters of credit in behalf of a foreign bank.
The bank (other than the issuing bank) that forwards the documentary credit to the beneficiary
Documentary Credits-The act of a bank notifying/conveying the terms and conditions of a documentary credit to the beneficiary. The advising bank is the issuing bank's agent, usually located in the beneficiary's country. Guarantees-A foreign bank requested by the issuing bank (the Guarantor) to forward the latter's orginal Guarantee to the Beneficiary. The advising bank is not a party to the Guarantee therefore it does not incur any liability under the guarantee.
The bank, usually in the exporter's country, which advises the terms of the Credit to the exporter (this need not be the exporter's own bank).
A bank, operating in the exporter's country, that handles LETTERS OF CREDIT for a foreign bank by notifying the exporter that the credit has been opened in his or her favor.
The bank which receives a letter of credit or amendment to a letter of credit from the issuing bank and forwards it to the beneficiary.
The bank which advises the seller that a letter of credit has been opened in his favour by the buyer, however, the advising bank does not necessarily guarantee payment.
A term used in letter of credit transactions denoting the bank giving notification of the terms and conditions of a letter of credit to the beneficiary (seller).
A bank that sends a Letter of Credit to the Beneficiary on behalf of the Issuing Bank.
Also known as the notifying bank. This is the bank operating in the exporter's country which handles letter of credit on behalf of the foreign bank, by notifying the exporter that the credit has been opened in his favour and informing him of the terms and conditions of the letter of credit. It does not necessarily have responsibility for payment. Français: Banque notificatrice Español: Banco notificador
Agency bank Agreement corporation
An advising bank, in international trade, is a bank operating for the exporter in the exporter's country; the bank which handles letters of credit for foreign banks. An advising bank informs the exporter of the conditions of the letter of credit without necessarily bearing responsibility for payment.