CORPORATE AND INSTITUTIONAL GLOSSARY

ACH Return

ACHieve

ADR System

Accelerated Cost Recovery System (ACRS) (Modified)

Acceptance Credit

Acceptance Draft

Ad Valorem

Addenda Record

Administrator

Advising Bank

Affidavit Of Domicile

Affreightment (Contact Of)

After Date

After Sight

Air Waybill

All-Risk Clause

Alongside

Alternative Minimum Tax (AMT)

American Style Option

Analysis Certificate

Anti-Dumping Duty

Appointment Section

Appraisement

Appreciation

Arbitrage

Arrival Notice

Asset Allocation

Assigned In Blank

Assignment Section

Assignment Separate From Certificate

At Sight

At-The-Market

Ata Carbet

Attorney-In-Fact

Automated Investments

A letter of credit that provides for payment by means of a time draft. Acceptance and payment of the draft are guaranteed by the bank issuing the credit only if the documents presented under the credit conform to the L/C. Acceptance credits are advantageous because the beneficiary (the seller) can receive immediate payment by having the draft discounted, while the applicant's (buyer's) obligation to pay is deferred until the maturity of the draft.