A person named by the
This is a term often met with in connection with custom house matters. Duties are commonly referred to under two classes - "ad valorem" and "specific." The former is the duty levied according to the cost or marketable value of the goods in the country whence they were shipped. Specific duty is one levied without regard to value, but at a fixed rate per pound, or ton, or by measure.
An occasional use of the word is to indicate that money has been loaned,1 or that a payment has been made. When Jones " advances " Smith $50, it may indicate either of these transactions.
This is a regular " commercial bill " of exchange, only drawn against goods to be afterwards shipped instead of against a shipment already made. They are usually drawn only when there is a considerable regularity of trading between the drawer and the acceptor of the bill, whereby the latter leaves it largely to the judgment of the drawer as to the character, amount, and date of shipment of the goods.
If, as an example, you forward a check to some bank for deposit accompanied with a letter containing the words " for the credit and advice of James Taylor," it means that the bank must credit the amount to James Taylor and notify him; i.e. send him " advice," that it has done so. Also " letter of advice," to which refer.
After presentation for "acceptance," to which refer.
(There are various other ways of spelling this word.) The rate of exchange between the moneys of two countries; also the percentage of difference in values between two different moneys in the same country. For instance, a paper currency in some country may not be accepted at its face value in exchange for metallic currency. The percentage by which the latter exceeds the former in value is known as " agio." The percentage in value at which the paper currency is accepted below the metallic currency is called " disagio;" "agio" representing & premium upon a better currency, and "disagio" a discount upon a depreciated currency. The wear and tear, or "abrasion" of a metallic currency is also called "disagio."