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Simple English definitions for legal terms

negotiating bank

Read a random definition: guaranty treaty

A quick definition of negotiating bank:

A negotiating bank is a type of bank that buys or discounts drafts (a type of financial document) that are drawn under a letter of credit issued by another bank. This means that they help people get money for things they need by buying their financial documents. It's like if you had a ticket to a concert but couldn't go, so you sold it to someone else who wanted to go. The negotiating bank is the person buying the ticket in this example.

A more thorough explanation:

Definition: A financial institution that discounts or purchases drafts drawn under a letter of credit issued by another bank.

Example: Company A wants to buy goods from Company B in another country. Company B requires payment through a letter of credit issued by a bank. Company A's bank, the negotiating bank, agrees to pay Company B for the goods and then collects the payment from Company A.

Explanation: In this example, the negotiating bank acts as an intermediary between the buyer and the seller. It provides a guarantee of payment to the seller and assumes the risk of non-payment from the buyer. The negotiating bank also charges a fee for its services.

negotiated plea | negotiation letter of credit

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shaquilleoatmeal
17:51
@jackfrost11770: oo interesting - I first went complete 10/25 and now the sub 11/5
shaquilleoatmeal
17:51
wonder if they'll ask for me for more info but can't think of what it would be
17:54
berk…..
shaquilleoatmeal
17:58
what about berk
18:01
i need wave
shaquilleoatmeal
18:04
call them and demand one
@shaquilleoatmeal: did you get double app complete on sub status or just one
letsseehowitgoesnow
18:11
shaq i got that for BU
shaquilleoatmeal
18:13
@Eminatorcookieeater: just one
shaquilleoatmeal
18:14
@letsseehowitgoesnow: lfg!
shaquilleoatmeal
18:14
@Eminatorcookieeater: did you get one or double??
Just one sadly
letsseehowitgoesnow
18:15
I doubt it means anything. I applied like 2 weeks ago lol
letsseehowitgoesnow
18:16
Actually nvm. I don’t have that lol
shaquilleoatmeal
18:17
@Eminatorcookieeater: I think it's still a good sign, seems like we're one stage away from a decision rolling out which is a good thing, whether an A, R, or WL lol
shaquilleoatmeal
18:17
all obviously based on that reddit post which might not be accurate
Exactly at least something is happening haha
shaquilleoatmeal
18:19
lfg just got a vandy interview
Dkk
18:26
Nice, I should get that app in.
Dkk
18:26
Good motivation.
shaquilleoatmeal
18:28
@Dkk: get that app in man, c'mon
[] baddestbunny
18:29
1.5 hours bitches
[] baddestbunny
18:32
but who’s counting?
it’s happennninnnnggg
Dkk
18:37
I will do better! @Shaq
shaquilleoatmeal
18:41
atta boy dk
[] baddestbunny
18:42
I think our opponent’s dad is mad at me
good feed off his malding
JumpySubsequentDolphin
18:52
gulc should send invites so i can take my mind off the election
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