#banking terms

• Aval backing — The act of guaranteeing a bill via an aval and its result; the legal and financial operation through which a physical or legal person guarantees by signature the payment of a bill of exchange or promissory note, assuming joint liability for extinguishing the commercial debt.
• Avalist — A physical or legal person who guarantees by signature (aval), on a bill of exchange or a promissory note, the payment of this credit title at maturity, becoming jointly and unconditionally liable alongside the guaranteed party.
• Female avalist — A female person or a legal entity (represented by a female) that guarantees by signature (aval), on a bill of exchange or a promissory note, the payment of this credit title at maturity, becoming jointly and unconditionally liable alongside the guaranteed party.
• Backed by an aval — Having been guaranteed through the application of an aval signature; a promissory note, bill of exchange, or commercial paper for which a guarantor (avalist) has assumed joint and unconditional liability for payment in case of default by the primary debtor.