advising bank

advising bank definition - business

advising bank

A correspondent bank that handles letters of credit on behalf of a foreign bank. The advising bank notifies the exporting firm of the terms and opening of the letter of credit.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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