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it is the credit guarantee issued against the procurement of goods and services from other countries..

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13y ago

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Financial assistance letters?

The financial assistance letters refer to letters written to help an individual or an organization access finance.


What is the purpose of debt collection letters and how can they help in recovering outstanding debts?

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What are statements about the senate?

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Where can you find samples of financial hardship letters


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What is meant by acceptance outstanding?

Letters of Credit outstanding - this account arises out of the issuance of letters of credit for which the bank obligates itself to pay or guarantee payment. The bank has a right of recourse against the customer whose credit it substitutes. Acceptance outstanding - this is similar to the account letters of credit outstanding except that it makes the bank's obligation more real than contingent. the bank will honor the drafts presented to it and will also have the right of recourse against the customer. The acceptance makes the instrument easily negotiable and more acceptable for discounting. source: Banking theory and practice by: Mercedes M. Leuterio & Consuelo B. Estepa


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Bank issued letters of credit to be used as currency


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Which supporting document will the manager need when seeking for financial aid?

When seeking financial aid, the manager will typically need to provide a detailed budget or financial proposal outlining the project's costs and expected outcomes. Additionally, supporting documents such as the organization's financial statements, tax returns, and any relevant project plans or descriptions may be required. Letters of support or collaboration from partners can also strengthen the application. Lastly, compliance documents demonstrating adherence to eligibility criteria may be necessary.