Import Export Specialist Question: Download Import Export Specialist PDF
What is advising Bank?
Answer:
Advising Bank is 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.
| Previous Question | Next Question |
| What are the key motivating factors for going international? | What is British Trade International? |