Red Clause, Glossary and Terms, Depository Institutions & Credit Unions

U.S Depository Institutions List of United States Depository Institutions, Credit Unions, Guide Service

"Red Clause"

Clause in a letter of credit that authorizes the advising/negotiating bank to make an advance payment to the beneficiary before presentation of shipping documents, usually against a simple receipt.

Depository glossary and terms by letter

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