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What is irrevocable revolving nontransferable documentary letter of credit?
it's a business transaction done between 02 parties and a bank holding credit
What is a credit letter?
A Stand by Letter of Credit is usually given by banks or financial institutions to vouch on the integrity of a seller and purchaser, acting as an intermediary. The buy and sell agreement is made between the two parties that both must uphold their part.
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 two steps are involved with getting a credit card?
at 2 steps are involved with getting a credit card
What does SBLC mean in terms of international trading?
SBLC stands for 'stand by letter of credit'. The standby letter of credit serves a different function than the commercial letter of credit. The commercial letter of credit is the primary payment mechanism for a transaction. The standby letter of credit serves as a secondary payment mechanism. A bank will issue a standby letter of credit on behalf of a customer to provide assurances of his ability to perform under the terms of a contract between him and the beneficiary. The parties involved with the transaction do not expect that the letter of credit will ever be drawn upon. The standby letter of credit assures the beneficiary of the performance of the customer's obligation. The beneficiary is able to draw under the credit by presenting a draft, copies of invoices, with evidence that the customer has not performed his obligation. The bank is obligated to make payment if the documents presented comply with the terms of the letter of credit. Standby letters of credit are issued by banks to stand behind monetary obligations, to insure the refund of advance payment, to support performance and bid obligations, and to insure the completion of a sales contract. The credit has an expiration date. The standby letter of credit is often used to guarantee performance or to strengthen the credit worthiness of a customer. In the above example, the letter of credit is issued by the bank and held by the supplier. The customer is provided open account terms. If payments are made in accordance with the suppliers' terms, the letter of credit would not be drawn on. The seller pursues the customer for payment directly. If the customer is unable to pay, the seller presents a draft and copies of invoices to the bank for payment. The domestic standby letter of credit is governed by the Uniform Commercial Code. Under these provisions, the bank is given until the close of the third banking day after receipt of the documents to honor the draft.
What is irrevocable revolving nontransferable documentary letter of credit?
it's a business transaction done between 02 parties and a bank holding credit
How to endorse a bill of lading?
How do I endorse a B/L., when there is no Letter of Credit involved
Who are the parties to credit card?
There are basically two parties involved with credit cards - the creditor and the debtor. The creditor is the organisation who pays the shop or business the debtor (ie you) are buying from. They then collect the money from you in installments adding interest each month until the bill is paid.
If you made all the back payments on a repossessed car and paid the fees that were due would the repossession still show up on your credit report?
YES I have a letter if you would like it that you can send to the parties involved that may or may not be able to help you get this off your credit report. let me know if you would like it.
What is a credit letter?
A Stand by Letter of Credit is usually given by banks or financial institutions to vouch on the integrity of a seller and purchaser, acting as an intermediary. The buy and sell agreement is made between the two parties that both must uphold their part.
What are the content of the letter?
Name of the firm to be audited Name of the auditing firm or name of the auditor signatures of both parties involved dates duly signed
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.
Does a bank have to dislcose both parties credit scores?
A bank is not required to disclose both parties' credit scores. They are, however, required to give a notice which states why they deny credit or the opening of an account.
Who benefits mutualism?
parties who are mutually involved.
Who benefits of mutualism?
parties who are mutually involved.
What is the success or failure of a negotiations directly related to the depth achieved by the parties involved?
Communications are directly related to the success or failure of achievements by the parties involved.
What success or failure of a negotiation is directly related to the depth of achieved by the parties involved?
Communications are directly related to the success or failure of achievements by the parties involved.
