Taking in charge
Receipt of goods by carrier from shipper.
Payment instruction sent from one bank to another by electronic means, either SWIFT or telex.
The method of choice for urgent or high-value payments.
Bill of exchange on which payment is due at a future date.
Also known as tenor bill.
Transport document in which the bearer has title to the goods, and so can claim them from the carrier at their destination.
On a bill of exchange 'order' or 'to order' means that the drawer directs payment to be made to another party (usually a bank).
On a bill of lading, 'order' or 'to order' assigns ttile to the goods to another party.
Transferable letter of credit
Letter of credit part of whose value can be transferred to another party (second beneficiary). The Advising bank gives the second beneficiary a transferred letter of credit.
Transfer of goods from one vessel to another during its journey. Some letters of credit prohibit this.
Document given by the carrier to the shipper (seller), serving as:
The transport document MAY also serve as a document of title.