Login or register (free and only takes a few minutes) to participate in this question.You will also have access to many other tools and opportunities designed for those who have language-related jobs (or are passionate about them). Participation is free and the site has a strict confidentiality policy. German to English translations [PRO]
Bus/Financial - Finance (general) | | German term or phrase: Akkreditivbank | | In an explanation of how letters of credit work: "Ein Importeur in A. (Akkreditivsteller) beauftragt seine Bank (Eröffnungsbank), einem Exporteur in B. (dem Akkreditierten), von dem er Waren gekauft hat, ein Akkreditiv bei einer Bank in B. (Akkreditivbank) zu eröffnen." As I understand it, the applicant (Akkreditivsteller) instructs his/her bank (issuing/opening bank) to open a letter of credit for the beneficiary (Akkreditierter). If an issuing bank and an opening bank are the same thing (aren't they?!), what do you call an "Akkreditivbank". Doesn't sound like it's the confirming bank. Is it perhaps the advising bank? |
| SEHKudoZ activityQuestions: 147 (none open) ( 6 without valid answers) ( 4 closed without grading) Answers: 13
| Local time: 08:27
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| | English translation:Advising bank | Explanation:
Yes, you're guess is right as far as I understand the description in the link below |
| Selected response from:
abaensch
Germany
Local time: 08:27
| Grading comment Thanks for your help. I'm still not 100% sure, but from your reference it seems to be right, and the only other answer suggested is no help because I can't call both of them opening banks...
4 KudoZ points were awarded for this answer |
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| Discussion entries: 0 |
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Automatic update in 00:
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7 mins confidence:   peer agreement (net): +1 originating /(opening) bank
Explanation:
Good luck, SEH!
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Note added at 2004-02-23 10:33:21 (GMT)
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Logistics Management - Flying funds
... to a local bank (the \"advising\" bank), which acts on behalf of the originating
bank. ... the buyer and seller must negotiate an amendment to the L/C, which may ...
www.manufacturing.net/ lm/article/CA232460?stt=001&pubdate=07%2F01%2F02
MATRADE - Malaysia External Trade Development Corporation
... to the exporter (who is the beneficiary of L/C) as long as there is no agreement
on cancellation or withdrawal among the applicant of L/C, opening bank and the ...
www.matrade.gov.my/exporter/how-to/exporter-how8.htm
| Сергей Лузан
Russian Federation
Local time: 11:27
Works in field
Native speaker of:  Russian
PRO pts in category: 19
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| | Grading comment | Thanks, but that's the "Eröffnungsbank", isn't it? |
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| | Login to enter a peer comment (or grade) | The asker has declined this answer
Comment: Thanks, but that's the "Eröffnungsbank", isn't it? |
19 mins confidence: peer agreement (net): +1
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The translation workplace 
