In French law. The guaranty of a bill of change; so named because often put within foot or base (aval) of this costs. Story, Bills,
Mainland-European term for an unconditional third-party (usually the importer's or purchaser's lender) guaranty regarding the payment of a bill of change or promissory note. Also referred to as avalization, avalkredit, bon aval, pour aval.
- guarantee [surety]
- surety for payment
- downstream location