Transferable Credit is a documentary credit under which the bank called upon to effect payment or acceptance, or to any bank entitled to effect negotiation, makes the credit available in whole or in part to one or more third parties (second beneficiaries).
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Obligation is the responsibility to perform some act or pay a sum of money when due.
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Border tax adjustment means the fiscal practice, under the General Agreement on Tariffs and Trade, by which imported goods are subject to some or all of ...