credit instrument
5.A negotiable credit instrument is a written and signed unconditional promise to pay a specified sum of money at a specified time.
6.Each negotation must be endorsement on the reverse side of beneficiaries original credit instrument by the negotiating bank which has to confirm the endorsement on their documentary remittance letter.
7.The letter of credit is the bank instrument that assures the person selling merchandise of payment if he makes the agreed-upon shipment.
8.Article 2 The term " hedging" refers to one or more hedging instruments which are designated by an enterprise for avoiding the risks of foreign exchange, interest rate, commodity price, stock price, credit and etc., and which is expected to make the changes in fair value or cash flow of hedging instrument(s) to offset all or part of the changes in the fair value or cash flow of the hedged item.
9.Demand deposits have no maturity and must be paid by commercial banks when a negotiable instrument, generally in the form of a check or a credit card, is presented.
