Please would you enlighten me what is the different between “advising bank” and “negotiation bank”? However, I understand that both of these names are merely being used in the business, especially when we’d like to mention to the seller banks.
Besides of that, I’ve also encountered with a condition or term on the contract which appears that " Analysis & Weights: Final at origin by independent lab & serveyor/terminal", another one is " Allowances 1:1. fractions in proportion", could you please explain to me what do they mean?
Thanks in advance for your help,
It might be better for you to find a forum that specializes in import/export (rather than an English forum) for answers to your questions.
Regarding banks and letters of credit:
Here is a link to a glossary of terms for ‘Letter of Credit’
And some further links:
fibre2fashion.com/texterms/e … terms1.htm
“Analysis & Weights: Final at origin by independent lab & serveyor/terminal” --> I understand this to mean that there is some kind of analysis and/or weighing done at the port of origin and these cannot be changed or altered later (after the goods have left the port).
“Fractions in proportion” --> expressed as a ratio