Letter of credit

Posted In CategoryLaws and Regulations
  • S
    Subhan 1 year ago

    What is letter of credit?

  • U
    Umair 1 year ago

    A letter issued by a bank to another bank to serve as a guarantee for payments is called Letter of credit.

     

  • A
    Asmaan 1 year ago

    Letter of credit is issued by a bank made to specified person under specified conditions.

     
     
     
     
  • A
    Asghar 1 year ago

    A letter of credit is a letter from bank guaranteeing that a buyer's payment to a seller will be received on time.

  • I
    Innyas 1 year ago

    A letter of credit is a document from a bank that guarantees payment.

  • A
    Ayaan 1 year ago

    A letter of credit is a letter from a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount.

     

  • T
    Tariq 1 year ago

    There are several types of letters of credit, they are often used when buying and selling.

  • A
    Asfand 1 year ago

    A commercial letter of credit is a contractual agreement between a bank, known as the issuing bank, on behalf of one of its customers.

  • F
    Faizan 1 year ago

    letter of credit is a promise by a bank on behalf of the buyer to pay the seller (beneficiary/exporter) a specified sum.

  • A
    Asama 1 year ago

    Letters of Credit are normally legally binding and cannot be cancelled unless all parties agree

     

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