Finance Glossary

Letter of Credit: A letter from a bank authorizing a person to draw money from another bank.


Pro forma Invoice: An invoice or request for payment sent in advance of goods supplied.


Waybill: List of goods and shipping instructions; bill of lading.


Bill of Lading: List of goods and shipping instructions.


c. & f. - cost & freight: includes shipping to named port but not insurance



c. i. f. -  cost, insurance & freight: includes insurance and shipping to named port


f. o. b. -  free on board: includes loading onto ship


f. a. s. -  free alongside ship [includes delivery to quayside but not loading