Back to Finance Glossary | Previous PageAval is a term that means inseparable from the financial instrument. This gives a guarantee and is abstracted from the performance of the underlying trade contract.
Article 31 of the 1930 Geneva Convention of the Bills Of Exchange states that the aval can be written on the bill itself or on an allonge. U.S. Banks are prohibited from avalizing drafts.
Latest Articles Related to Aval
Back to Finance Glossary | Previous Page
This web site is intended only to convey information. It is not to be construed as an investment guide or as an offer or solicitation of an offer to buy or sell any securities. The author has taken all usual and reasonable precautions to determine that the information contained in this website has been obtained from sources believed to be reliable.