cash letter of credit
51Milbank, Tweed, Hadley & McCloy — LLP Headquarters New York City No. of offices 11 …
52International commercial law — is the body of law that governs international sale transactions. [Mo, John S.; International Commercial Law (2003) 1.] A transaction will qualify to be international if elements of more than one country are involved. [Pryles, Jeff Waincymer, and… …
53bill — n 1: a draft of a law presented to a legislature for enactment; also: the law itself the GI bill ap·pro·pri·a·tions bill /ə ˌprō prē ā shənz /: a bill providing money for government expenses and programs ◇ Appropriations bills originate in the… …
54guaranty — guar·an·ty / gar ən tē, gär / n pl ties [Old French garantie, from garantir to guarantee, from garant warrant] 1: a pledge to pay another s debt or to perform another s duty in case of the other s default or inadequate performance compare letter… …
55acceptance credits — One of the ways in which a letter of credit (letters of credit) may provide for payment by the nominated bank (or the issuing bank) to the seller: the seller presents a time bill (bill of exchange) with the documents which the bank will accept.… …
56time — The measure of duration. The word is expressive both of a precise point or terminus and of an interval between two points. A point in or space of duration at or during which some fact is alleged to have been committed. See also computation of… …
57PERSIA — (Heb. פָּרָס, Paras), empire whose home coincided roughly with that of the province of Fars in modern Iran. Its inhabitants, calling themselves Persians, are first mentioned in Assyrian records of approximately 640 B.C.E. According to these… …
58reserve account — A type of credit enhancement used in some asset backed securities. The reserve account may be created by an initial deposit from the seller and may be augmented over time by the application of funds from excess servicing income. Credit is… …
59Circular note — A circular note is a document request by a bank to its foreign correspondents to pay a specified sum of money to a named person. The person in whose favour a circular note is issued is furnished with a letter (containing the signature of an… …
60negotiable instrument — n: a transferable instrument (as a note, check, or draft) containing an unconditional promise or order to pay to a holder or to the order of a holder upon issue, possession, demand, or at a specified time was determined to be a holder in due… …
