Advice

The forwarding of a letter of credit, or an amendment to a letter of credit to the seller, or beneficiary of the credit, by the advising bank (typically the seller’s bank).

The term “advice” connotes several types of forms used in the banking field. In general terms, an advice is a form of letter that acknowledges a certain action or result in regards to a customer’s relation to the bank. Examples include credit advice, debit advice, advice of payment, and advice of execution. In commercial transactions, information pertaining to a business activity such as the delivery of goods.