biznis

Invoice

document showing the amount owed for goods

Credit note

document reducing the amount owed

Debit note

document showing extra money owed

Pro-forma

estimated invoice sent before shipment

Account rendered

balance brought forward from a previous statement

Statement of account

monthly summary of unpaid invoices

Confirming bank

bank adding its own payment guarantee

Standby

backup letter of credit used if buyer fails to pay

Remitting bank

bank sending documents for collection

Advising bank

bank notifying the seller about the credit

Applicant

buyer requesting the letter of credit

Issuing bank

bank that opens the letter of credit

Routine

standard response requiring no special negotiation

Freight

charge or transporting goods

Advice note

document informing the buyer that goods have been sent

Rebate

partial refund given after payment

Consignment

seller is paid only after goods are sold

Open account

buyer pays after receiving goods

Documentary collection

bank collection process using shipping documents

Cash-in-advance

payment made before goods are shipped

Escrow service

third party holding funds until obligations are met