negotiating bank
A financial institution that discounts or purchases drafts drawn under a letter of credit issued by another bank. [Cases: Banks and Banking 191. C.J.S. Bills and Notes; Letters of Credit §§ 341–366, 368–370, 372–376.]
A financial institution that discounts or purchases drafts drawn under a letter of credit issued by another bank. [Cases: Banks and Banking 191. C.J.S. Bills and Notes; Letters of Credit §§ 341–366, 368–370, 372–376.]