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Cash advance

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Possible Answers:

LOAN.

Last seen on: Eugene Sheffer – King Feature Syndicate Crossword – May 6 2023

Random information on the term “Cash advance”:

An advising bank (also known as a notifying bank) advises a beneficiary (exporter) that a letter of credit (L/C) opened by an issuing bank for an applicant (importer) is available. An advising bank’s responsibility is to authenticate the letter of credit issued by the issuer to avoid fraud. The advising bank is not necessarily responsible for the payment of the credit which it advises the beneficiary of. The advising bank is usually located in the beneficiary’s country. It can be (1) a branch office of the issuing bank or a correspondent bank, or (2) a bank appointed by the beneficiary. An important point is the beneficiary has to be comfortable with the advising bank.

In case (1), the issuing bank most often sends the L/C through its branch office or correspondent bank to avoid fraud. The branch office or the correspondent bank maintains specimen signature(s) on file where it may counter-check the signature(s) on the L/C, and it has a coding system (a secret test key) to distinguish a genuine L/C from a fraudulent one (authentication).

Cash advance on Wikipedia

Random information on the term “LOAN”:

Wiener Neustadt West Airport (ICAO: LOXN) is a military airport located 43 km (23 nmi) south-southwest of Wien, Austria.

This article about a European airport is a stub. You can help Wikipedia by expanding it.

LOAN on Wikipedia

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