Account party

Account Party
Account Party definition :
Party who applies to open a bank for the issuance of a letter of credit.
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Account Party
Party who applies to open a bank for the issuance of a letter of credit.
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Account party:
The party which addresses the bank for the issue of a letter of credit , e.g. the account party can be an importer, a buyer, a construction contractor or a supplier bidding on a contract.

Account Party.
The buyer under a letter of credit. The party ultimately responsible for reimbursing the issuing bank for all payments extended on its behalf.

Account Party
Same as Applicant, the party at whose request a bank issues a letter of credit.
Accounts Payable ...

Account Party
The FI's customer. In a letter of credit, the FI guarantees payment to the beneficiary on behalf of the account party.

[EPA] account party Buyer/importer or applicant who arranges for the establishment of a letter of credit. [FDIC] accountant A person who performs accounting work.

DATED BILLINGS - Receivables created by invoices that do not require the account party to pay until som...
DATED DATE - The date one uses to calculate accrued interest on various debt instruments, specifically ...

Receivables created by invoices that do not require the account party to pay until some date in the future. Sometimes called datings.
day basis
See accrual convention.

The brokerage firm employee who handles stock orders for clients. See: Broker.
Account Party
Party who applies to open a bank for the issuance of a letter of credit.
Account reconciliation ...

See also: Letter of credit, Banks, Expense, Bills, Time draft