Advised Credit -- A letter of credit whose terms and conditions have been notified to the beneficiary by an advising bank on behalf of the issuing bank. The advising bank does not thereby commit itself to pay or guarantee the payment of the letter of credit.
Copyright © 2005 by Mark McCracken, All Rights Reserved.
TeachMeFinance.com is an informational website, and should not be used as a
substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any
investment or financial decision.
Please read our disclaimer.