Jargon beginning with: b

B / L: See 'Bill of Lading'.

B.O.O.T: Build, Own, Operate and Transfer. A structure used to finance revenue-driven construction and infrastructure projects.

B.O.T.: Build, Own and Transfer. A structure used to finance revenue-driven construction and infrastructure projects.

Back-to-back Letter of Credit: Simultaneously issued Letters of Credit where the credit standing of an ultimate Buyer of goods is used as security for issuing further credits in favour of other Beneficiaries in the supply chain.

BACS: Originally stood for Bankers Automated Clearing Services. Now called BACS Ltd., the company provides a payment and clearing system for Pounds Sterling in the UK.

Barter: The exchange of goods for goods without the use of a unit of exchange such as currency.

Basel I, II and III: Basel I, II & III are capital requirements drawn up by the Basel Committee on Banking Supervision of the Bank of International Settlements. They aim to ensure that banks hold sufficient capital in relation to their assets, such that if they suffer losses the banks will be able to meet their obligations.

Beneficiary: The party to whom funds are payable under a Documentary Credit.

Berne Union: The International Union of Credit and Investment Insurers. Plays a central role in defining and governing the activities of the state Export Credit Agencies.

Bi-lateral Trading Accounts: Reciprocal arrangements between two countries to trade together, maintaining records at their respective central banks of the exchange of goods and the values attaching to them in hard currency.

Bid Bond: May be called for by the employer in a construction contract. It covers the possibility of the bidder failing to perform if its bid is successful.

Bill of Exchange: A instrument of payment drawn by a seller ("the Drawer") on his buyer ("the Drawee") whereby the buyer accepts his obligation to pay a given or calculable sum of money at a fixed or determinable future time.

Bill of Exchange Act 1882: The main piece of legislation in English Law governing Bills of Exchange and Promissory Notes. Promissory notes are deemed to be a subset of Bills of Exchange.

Bill of Lading: A document in one or more originals which is a receipt for goods accepted for carriage by sea. It lists information relating the cargo such as place of shipment, name of the carrying vessel, description of the cargo and its weight and also whether the goods are damaged in any way.

bordereau: A detailed statement, often including details of risks, accounts and documents

Bullet Repayment: Repayment of a loan or other financing by one installment at the end of its life.

Buy-Back: Form of Countertrade where payment for capital plant and equipment is made, in whole or in part, from the proceeds of using the plant or equipment.

Buyer's Credit: A loan to a buyer of goods to enable him to purchase imports on extended credit terms.