B
Back-to-Back Credit

A credit issued against the security back of another credit （master credit） on the understanding that reimbursement will stem from documents eventually presented under the first credit （master credit） issued - see Special DCs． It follows therefore that each side of a B/B transaction covers the shipment of the same goods．

Beneficiary

A payee or recipient， usually of money．

A party in whose favour a documentary credit is established， usually the exporter．

Bill for Collection （BC）

Document（s） or cheque submitted through a bank for collection of payment from the drawee．

Bill of Exchange （B/E）

An unconditional order in writing， addressed by one person to another， signed by the person giving it， requiring the person to whom it is addressed to pay on demand or at fixed or determinable future time a sum certain in money to or to the order of a specified person， or to bearer．

Bill of Lading （B/L）

A receipt for goods for shipment by sea． It is a Document of Title： see Documents．

Bill Receivable （BR）

Bills which are financed by the receiving branch， whether drawn under a DC or not， are treated as BRs by both the remitting branch and the receiving branches - see Bills Receivable．

Blank Endorsed

When a bill of lading is made out to order or shipper order and the shipper has signed on the back of it， it is said to be blank endorsed． The bill of lading then becomes a bearer instrument and the holder can present it to the shipping company to take delivery of the goods．

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