What is PREADVICE?

Preparatory advice that is given about a credit letter, usually given to the issuing bank from the advising bank, when time is of the essence. It is also referred to as the preliminary advice.

More On This Topic



Link to This Definition
Did you find this definition of PREADVICE 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