Advising Bank [Last Updated by: admin on 2012-01-01]
A bank usually operating in the exporter's country, that handles letters of credit for a foreign bank by notifying the export firm that the credit had been opened in its favour. The advising bank fully informs the exporter of the conditions of the letter of credit. It is the duty of the advising bank to verify the credit and advise the beneficiary. The advising bank is the issuing bank's agent and is usually located in the exporter's country.