ADVISING BANK Definition

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ADVISING BANK is a bank in the exporters country handling a letter of credit.

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PAYMENT TERMS is the legal or contractual stipulation by a business as to when payment is to be made for goods or services supplied, e.g. cash with order, payment on delivery, or within a particular number of days of the invoice date.

FUTURE VALUE is the amount of money that an investment made today (the present value) will grow to by some future date. Since money has time value, we naturally expect the future value to be greater than the present value. The difference between the two depends on the number of compounding periods involved and the going interest rate.

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