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Advising bank

shipping container at sea
Definition

An advising bank, also known as a notifying bank, is a financial institution that acts as an intermediary in international trade transactions. It is responsible for receiving and authenticating documentary credits, letters of credit, or other payment instruments issued by the issuing bank. The advising bank notifies the beneficiary (seller/exporter) of the credit terms and conditions, ensuring that all parties involved are aware of the payment terms and can proceed with the transaction. While the advising bank does not guarantee payment, it plays a crucial role in facilitating secure and smooth communication between the parties in the supply chain.

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Advising bank

Definition

An advising bank, also known as a notifying bank, is a financial institution that acts as an intermediary in international trade transactions. It is responsible for receiving and authenticating documentary credits, letters of credit, or other payment instruments issued by the issuing bank. The advising bank notifies the beneficiary (seller/exporter) of the credit terms and conditions, ensuring that all parties involved are aware of the payment terms and can proceed with the transaction. While the advising bank does not guarantee payment, it plays a crucial role in facilitating secure and smooth communication between the parties in the supply chain.

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Our experts love to answer questions. Fill out the form and someone will contact you soon.

Thank you for your submission!

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Oops! Something went wrong while submitting the form.

Get the Most Advanced Visibility Into the Journey of Your Ocean and Rail Containers

Talk to one of our supply chain experts to get started now.
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Shipping container at seaShipping container at sea