Avalised Bank Draft
Monday, June 1, 2009
A Bill of Exchange to which a Guarantee is added by a bank to an accepted term Bill of Exchange by endorsing the bill ‘Good per aval’ the avalising bank becomes obligated to pay the draft at maturity if the drawee / acceptor fails to do so.
Labels: Dictionary, Financial and Business Terms
posted @ 10:27 PM,
1 Comments:
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