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Answer this question...it is a contractual promise issued by a bank. it is use as a means for payment in international trade
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∙ 10y ago
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How is opening letter of credit different from establishing letter of credit?
Both has same meaning, opening letter of credit establishing letter of credit once letter of credit is opened, credit is established.
All the clauses of letter of credit?
Banking organizations usually write letter of credit. The purpose of the letter of credit is so that you don't have to put down a deposit. This deposit could be for an electric company or any such place. You do need good credit to get a letter of credit.
How does the process of a letter of credit work?
Getting a letter of credit will help make a case for your character. With a letter of credit, banks will look at you as a favorable borrower.
Buyers credit - Letter of credit?
A red clause letter of credit is similar to a letter of Credit which is written to state or confirm the availability of funds for a particular transaction between the seller and buyer. However, a clause is included in the letter stating that the stated amount or credit can be advanced immediately on showing the letter.
How do you discount a letter of credit?
HelloMost banks discount your letter of credit at rate of 3% to 20% but n our case we have a very strong relationship with our bank and we can for certainty discount your letter of credit at 75-80%.Please contact me if you need to discount your letter of credit or can have a letter of credit issued .my email:theswiftd@gmail.com
How is opening letter of credit different from establishing letter of credit?
Both has same meaning, opening letter of credit establishing letter of credit once letter of credit is opened, credit is established.
What is the best feature of standard chartered credit and debit card?
The best feature of standard chartered credit and debit card is the EMV chip
What is a commodities letter of credit?
It is a Letter of Credit covering commodities.
What is RDLC one type of letter of credit?
Revolving Documentary Letter of Credit
How do you calculate letter of credit need?
100000 letter of credit interest rate
All the clauses of letter of credit?
Banking organizations usually write letter of credit. The purpose of the letter of credit is so that you don't have to put down a deposit. This deposit could be for an electric company or any such place. You do need good credit to get a letter of credit.
How does the process of a letter of credit work?
Getting a letter of credit will help make a case for your character. With a letter of credit, banks will look at you as a favorable borrower.
Buyers credit - Letter of credit?
A red clause letter of credit is similar to a letter of Credit which is written to state or confirm the availability of funds for a particular transaction between the seller and buyer. However, a clause is included in the letter stating that the stated amount or credit can be advanced immediately on showing the letter.
Are there any credit cards that do not have a cash advance feature?
use of internet?
How do you discount a letter of credit?
HelloMost banks discount your letter of credit at rate of 3% to 20% but n our case we have a very strong relationship with our bank and we can for certainty discount your letter of credit at 75-80%.Please contact me if you need to discount your letter of credit or can have a letter of credit issued .my email:theswiftd@gmail.com
How do you explain the working of Letter of Credit?
Explain the significance of letter of credit in international marketing?
What are the main features of a Zales credit card?
The main feature of a Zales credit card are no interest on a $300 purchase if paid within 6 months. Another feature is no annual fee for accounts in good standing.
