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seller's bank

Concept · KTDDE Vocabulary (SKOS) · Draft

URI

https://iri.suomi.fi/terminology/a89c6af7a/concept-11

Terms

Preferred term, Draft
Synonym, Draft

Definition

bank designated by the seller (beneficiary) to receive payment or to act in relation to the seller under the agreed payment method (e.g., open account, collections, or documentary credit)

Note

In documentary credits, the seller’s bank may be the nominated, negotiating, presenting, or confirming bank. Identify the bank with a BIC and, where relevant, branch/address and account identifier (IBAN or local). Distinguish from the buyer’s bank (payer’s bank).

Organization

Finnish Tax Administration

Created at

Modified at

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