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    Beneficiary 

    Means the party in whose favour an L/C is issued. Normally the Seller.

    Advising Bank 

    The bank that advises the Guarantee/LC at the request of the Issuing bank.

    Agent (Leading Bank) 

    The Agent issues the Guarantee for the full amount and backed up by counter-guarantees from the participating bank(s). If no agents have been elected in a Multi-Party Guarantee there could be a dilemma for the Guarantor to execute a demand if the Guarantee is silent regarding the responsibility of each party involved.

    Air Waybill (AWB) 

    Transport document issued for carriage by air in the form of confirmation of acceptance of goods for carriage. Not a negotiable instrument. The conditions of carriage are uniformly laid down in the Warsaw Agreement of 12.10.1929 and the subsequent additional protocols. «House air waybills» are also common. See UCP Art. 23.
    An air consignment note refers to a receipt issued by an international courier company for goods and an evidence of the contract of carriage, but it is not a document of title to the goods. Hence, the AWB is non-negotiable.

    Amendments 

    A Guarantee/LC can neither be amended nor cancelled without the agreement of the Issuing bank, the Confirming bank, if any, and the Beneficiary.
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    Updated 16/5, source