OFF-FRONT PAYMENT Definition

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OFF-FRONT PAYMENT see UP-FRONT PAYMENT.

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CORRESPONDENT BANK is a bank having communications and business links with the sellers bank.

GLOBALIZATION is the name for the process of increasing the connectivity and interdependence of the worlds markets and businesses. In its literal sense, globalization is a social change, an increased connectivity among societies and their elements due to transculturation; the explosive evolutions of transport and communication technologies to facilitate international cultural and economic exchange are examples of globalization.

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