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Letter of Credit payment
Letter of Credit payment
Buyer's credit is extended to finance the purchase of goods or services. A letter of credit guarantees that a payment will be received. If the buyer doesn't make a payment, the bank has to pay.
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A final demand for payment letter can be a very strong letter by a company that is demanding payment from one of its debtors. Despite many reminders and requests for payment, the company has not received payment from its debtors, which causes it to write a strong letter to imply harsher actions. From:
To request a payment plan from the IRS by sending a letter, you should write a formal letter to the IRS explaining your financial situation and proposing a payment plan that you can afford. Include your contact information, tax identification number, and any supporting documents. Send the letter to the address provided on the IRS website for payment plan requests.
A Letter of Credit can be issued in the Philippines as a way to ensure that payment will be made to creditors. If the beneficiary does default on his payment, his bank will pay his creditors what is owed.
Both Letter of Credit and Letter of Guarantee are commitment to payment by the issuer of the instrument (generally a Bank). In letter of credit, the issuer has to fulfill his commitment on fulfilling the terms and conditions of the letter of credit by the beneficiary. Whereas, on the other hand, in letter of guarantee the issuer has to make payment, when the beneficiary is unable to fulfill the terms & conditions of the letter of guarantee.
Never heard of it. Perhaps it's a mistranslation of "transferable letter of credit"- which is a letter of credit in which the whole or part of the payment can be transferred from the payee to a 3rd party.
Stop payment throught credit card
after you kill someone in your firm and then write the letter in blood
10 days