Waybill is non-negotiable transport document, issued for either ocean transport (sea waybill) or air transport (air waybill).
More from this Section
- Remitting Bank
Remitting Bank under documentary collections the bank to which the principal (exporter) has entrusted the handling of a collection.
A swap is an agreement between two companies to exchange cash flows in the future to protect their positions from different risks.
- Certificate of Deposit (CD)
Certificate of Deposit (CD) is a negotiable instrument issued by a bank evidencing time deposit
- Foreign Currency Account
Foreign Currency Account is deposit account expressed in a foreign currency maintained with a domestic bank.
- Credit History
Credit History is a record of how a person or company has borrowed and repaid debts.
- Collecting Bank
Collecting Bank is any bank, other than the remitting bank, involved in processing the collection.
Beneficiary is the seller or exporter in whose favour the documentary credit has been established.