ARLC — Automatic Revolving Letter of Credit. Automatically reinstated and guaranteed successively in the amount of each shipment for a pre-set schedule, as decided between buyer and seller.
ASWP — Any Safe World Port.
C&F — Cost & Freight.
CIF — Cost Insurance & Freight.
DLC — Documentary Letter of Credit Issued and guaranteed by the bank for the full amount of the contract, each shipment paid separately.
F.O. — Free out.
F.O.B. — Free on Board.
KTT — Key Tested Telex. Secure way for banks to communicate to each other.
LC — Letter of Credit - Method of transfer where the parties' banks stand guarantor to the transaction.
PBG — Prime Bank Guarantee used to guarantee payment from a prime bank.
RLC — Revolving Letter of Credit issued in the amount of each shipment at a time.
SGS — Society General de Surveillance SA - International Commodity Inspection Agency.
SHEX — Sundays and Holidays excepted.
SHINC — Sundays and Holidays included.
SLC — Standby Letter of Credit Issued for the full amount of the contract, but negotiable after all deliveries have been made, Usually for One year and 1 day or 1 week.
TT — Telegraphic Transfer - A method of payment where and immediate transfer of funds takes place between two bank accounts.
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