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TT - Telegraphic Transfer - A method of payment where and immediate transfer of funds takes place between two bank accounts. in this case, the buyer will have no control over the receipt of the goods once he has made the payment.
LC - Letter of Credit - This a method of transfer where the parties' banks stand guarantor to the transaction. Such an agreement ensures security for both parties. The buyer cannot collect the goods till he has paid the money and the seller cannot collect payment till he has shipped the goods. The effectiveness of the LC will depend on the agreement between both parties.
What else can I help you with?
Full form of TT Lc?
l c
What is LC DA DP TT payment options?
LC = Payment thru Letter of Credit DA = Payment against acceptance DP = Payment against receipt of document TT = Telegraphic transfer
What is meant by payment term TT?
Payment term TT stands for Telegraphic Transfer, which is a method of payment where funds are transferred electronically from one bank account to another. TT payments are commonly used in international trade transactions as a secure and quick way to exchange funds.
What does LC stand for in LC connector?
LC stands for Lucent Connectors
A game like World of Warcraft but free?
Guild wars, you buy the game and that's it no extra payments other than expansions. tt
What is a Usanse LC?
LC for 30,60,90,or 120 days is called Usanse LC
Lc applicant and drawee are the same?
When the letter of credit (LC) applicant and the drawee are the same, it typically indicates that the buyer is also the party responsible for making payments under the LC. This situation can arise in transactions where the buyer seeks financing or guarantees for their purchases. However, it may raise concerns about the independence of the transaction, as the buyer's financial stability directly impacts the LC's effectiveness. It's essential for both parties to clearly understand their roles and obligations to avoid potential disputes.
What is a LC opening?
what is lc opening?
What does LC mean?
lc = learning centre
What is included in the T T L payments these are payments you make to pay employees tax deductions.?
Treasury Tax and Loan (TT&L) payments consist of federal income taxes deducted from employee paychecks made directly by business firms to depository institutions, rather than in the US Treasury's accounts at the Federal Reserve, thereby allowing the tax payments to remain in the banking system. The TT&L program aids in maintaining the stability of financial markets by reducing uncertainty about the supply of reserves in the banking system and simplifying the Fed's implementation of monetary policy.
Difference between Export LC and import lc?
An import LC is one made with reference to the buyer but with an export LC, the LC is changed to that with reference to the Issuing bank. This gives a stronger guarantee of payment to the seller.
What exactly means by LC?
LC is Letter of credit
