Glossar Trade & Export Finance
This supplementary clause in a guarantee specifies more precisely when and
under what circumstances a guarantee enters into force, usually in combination
with the expiry clause.
A notation of transfer usually on the back of a document signed by the endorser. The documentary credit frequently calls for the following documents which are transferred by endorsement:
bill of exchange
bill of lading
«Enforcement» means that the beneficiary exercises the right to demand payment (or part payment) of the guarantee amount. The bank will check whether the beneficiary has made the demand for payment in accordance with the terms of the guarantee.
Newly industrialised countries or markets with above-average growth potential and developing financial markets.
Movement certificate and proof of preference for export in countries and regions associated with the EU (and EEA) through free trade agreements, association or preferential agreements, as long as the goods concerned are included in the tariffs preferences.
The expiry clause in a bank guarantee regulates the duration of an obligation.
Explanation see under «Validity (of a documentary credit)».
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