1) Letter of Credit (L/C) Credit Payable @ sight

Letter of Credit is normally got issued in favour of a beneficiary in business transactions. The beneficiary is supposed to fulfil certain business obligations before being entitled to get the payments from the bank/financial institution named therein (in L/C) for payment. Now with L/C payable at sight, the beneficiary entitled for the payment mentioned therein would complete the obligations, in the manner and spirit, as stated in the LC document and present to the drawee bank, through his own bank for payment on presentation. This presentation for payment at the first time itself is called payment at sight. Means thereby paying the amount at first sight of the LC and other required documents in the manner and spirit stated therein. The other kind of LCs are - being payable after certain number of days after the first sight i.e. DA, on happening of certain event etc.
A sight draft is payable as soon as it is presented for payment.The bank is allowed a reasonable time to review the documents before making payment

2) BG Bank Guarantee

A guarantee from a lending institution ensuring that the liabilities of a debtor will be met. In other words, if the debtor fails to settle a debt, the bank will cover it. A bank guarantee enables the customer (debtor) to acquire goods, buy equipment, or draw down loans, and thereby expand business activity.

A Bank Guarantee (more properly called a Bankers Guarantee) is a banking arrangement whereby a bank substitutes its creditworthiness for that of its customer. Unlike an L/C which is intended to be paid, a BG is a contingent obligation. Contingent means depending on the happening of an event, which may or may not occur and 99% of the time it is not paid because the event does not happen. Everyday, banks big and small issue BGs on behalf of their customers for a variety of mundane purposes. A BG is never issued for the banks own account, always on behalf of its customers, and the final liability falls on the customers. The most common type of BG is performance-related, in which a bank tells the beneficiary if the customer does not do this or that, the bank will pay. A common example is a BG issued to a shipping company for the release of goods without the Bills of Lading. The other type is to substitute for a cash payment, an example being a BG issued to a utilities company to guarantee an account in lieu of a cash deposit, or in lieu of a cash deposit to support a tender. Less common are BGs issued for financial reasons. An example is, say, an MNC in one country wishes to borrow from a bank for its subsidiary in another country. The MNC can ask their bank to issue a BG to the subsidiarys bank guaranteeing the loan. Again the BG will only be paid in case of default by the borrower.

SBLC - The term Standby Letter of Credit (SBLC or SLC) was invented by U.S. banks because under
the Glass-Steagal Act banks in the U.S. were not allowed to issue Bank(ers) Guarantees so they got round the law by formatting their BGs like Letters of Credit and called them Standby L/Cs. The word standby means the same as contingent available when called upon, like reserve footballers sitting on the bench waiting to be called if needed. The terms SBLC and BG are interchangeable, both do the same work and both serve the same purpose. All the above examples can be issued either in the form of a BG or a SBLC. The difference between a BG and a SBLC is legal, a BG is a simple obligation subject to civil law whereas a SBLC is issued subject to UCP 500 and ISP 98, both well-accepted banking protocols. Both SBLCs or BGs can be issued and sent by Swift, telex, courier, mail, messenger or pigeon. The mode of transmission does not matter. It is therefore clear that both SBLCs and BGs are not tradeable securities nor are they negotiable instruments for the simple reason that they are issued for a specific purpose covering an underlying obligation and this purpose and underlying obligation cannot be transferred to anyone.

3) CFR+ name of the port (Cost & Freight):

The delivery of goods to the named port of destination (discharge) at the seller's expense. Buyer is responsible for the cargo insurance and other costs and risks. The term CFR was formerly written as C&F. Many importers and exporters worldwide still use the term C&F. In the export quotation, indicate the port of destination (discharge) after the acronym CFR, for example CFR Karachi and CFR Alexandria. Under the rules of the INCOTERMS 1990, the term Cost and Freight is used for ocean freight only. However, in practice, the term Cost and Freight (C&F) is still commonly used in the air freight. 3) Certificate of Origin - a certificate provided by the vendor to establish the country of origin for a product for customs & duty processing 4) SGS Certificate - he company SGS certifies that products, systems or services meet the requirements of standards set by governments (e.g. GOST R), standardisation bodies (e.g.ISO 9000) or by SGS customers. SGS also develops and certifies its own standards. 5) ICPO - Irrevocable Commission Payment Order

6) MT130 - SWIFT is a company that operates and manages a network that

connects banks and other financial institutions. Through this network (AlsoKnown-As SWIFTnet) information can be exchanged using special crafted messages known as Message-Types (MT). The MT 103 is a specific message format used mainly for transferring information about money between customers of different banks or other similar financial institutions (ie credit card operators). http://www.swift.com/index.cfm?item_id=60135 says: In the MT portfolio for customer payments to be sent by financial institutions, the MT 103 and the MT 103+ are the de facto standards used in cross-border traffic for single customer credit transfers.

7) Irrevocable Letter Of Credit (ILOC) - A letter of credit that can't

be canceled. This guarantees that a buyer's payment to a seller will be received on time and for the correct amount.

8) NCNDA
9) ASWP: Any Safe World Port

10) DLC Document Letter of Credit: Any one can write a 'Documentary letter of credit"(DLC)- which defines the matter as it pertains to the type of financial instrument used to pay for goods being ordered. The DLC has terms and conditions applied upon it's body . The end buyer issues the DLC to which the supplier enacts the conditions that must be met before he can obtain "collection" of funds as applied on the DLC.
The best form of DLC issuance are those issued form bank as irrevocable and Confirmed. The DLC is guaranteed by he bank issuing such and not the buyer, thus the bank is saying to the supplier-"Look I don't care what the end buyer says- you the seller ensure that the conditions of the credit are a met , and we the bank will guarantee payment for the goods ordered" Thus the irrevocable status means that the buyer cannot instruct bank to cancel the credit once issued as the bank guarantees the payment once a DLC is issued.

The supplier goes to work and prepares all the delivery and presentation documents needed as implied on the credit which could include Bill of lading, SGS quality certifications, Certificate of origin, export permit , and always incluses a sellers invoice. The 'delivery" documents are returned to the bank issuing the credit , the documents are examined and

if all conditions of the credit are met , the issuing bank allows the supplier to collect the value of the credit - The suppliers bank now applies for collection of such Only a DLC can be or should be used for payment of goods - A SLC (Standby credit ) are often used for payment of commission or for issuance of a performance guarantee AFTER a DLC has bee issued. When an intermediary is involved they should use what is known as a transferable credit in where the end buyer opens a transferable credit to the middle controlling intermediary , who transfers the price of goods value portion of the TDLC to the supplier- the supplier prepares the delivery document to the middle intermediary, who changes the invoice for a copy of his own showing his selling price to the his end buyer .Other delivery documents are endorsed over in blank to the end buyer as well- if all is in order collection on the DLC is again allowed to apply in where the intermediary gets to keep the portion value of the DLC being the difference between the selling and buying price as his own "commission" -if such has not got others to assist him with the closing of the deal all the commission is his- otherwise from this commission, he pays other who have assisted him an agreed portion as well. Intermediaries are required to ensure that they are only handling a " Bank issued UCP600 DLC" meaning "Uniform Custom and Practice for the Issuance of Documentary credit as per ICC publication 600" Rules apply- These credit have nearly a 90 % world wide issuance application and have a set of special rules applied to them-and are indeed very safe when such issuance conforms to such rules. The end buyer goes to the bank with his own funds or borrowed funds he asks the bank to open a UCP600 DLC to person , after the contracts for the purchase of goods have been signed.

PB Performance Bond: A surety bond between two parties, insuring one party against loss if the terms of a contract are not fulfilled. Usually part of a construction contract or supply agreement.

POF: Proof of Funds: POF stands for proof of fund that is used
for collateral or securities. It proofs that one has fund to maintain any cost.
FCO- Full Corporate Offer: This is the final, detailed, specific offer that the seller is sending to the buyer. POP- Public Offering Price. Search for other info on Public Offerings, IPOs, POP versus Net Asset Value (NAV) to understand the contexts in which this term is used.