Wednesday, 1 February 2012
What is bill of landing
A document acknowledging the shipment of a consignor`s goods for carriage by sea
What is bank loan
A specific sum of money lent by a bank to a customer usually for a specific time at a specific rate of interest
What is Bill of Exchange
An unconditional order in writing addressed by one person (the drawer) to another(the drawee) and signed by the person giving its reguiring the drawee to pay an demand or at a fixed or determined future time a specified sum of money to or to the order of a specified person(the payee)
What is Base stock
A certain volume of business stock assumed to be constant in that stock levels are not allowed to fall below level
What is meant By Bank rate
The rate of interest used as a basis by banks for the rate they charge their customers
What is Bank quarantee
An undertaking given by a bank to settle a debt should the debtor fail to do so
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