What is CABLE FOR AUTHORITY?

To pay a request that was sent electronically by starting a negotiation with a bank (usually the issuing bank) of a letter of credit (L/C). Permission must be given to pay the L/C despite any other circumstances.

More On This Topic



Link to This Definition
Did you find this definition of CABLE FOR AUTHORITY helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary