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Transferable letter of credit Transferable letter of credit refers to the document that allows the first beneficiary on a standby letter of credit to transfer all or part of the ...
Stand by letter of credit Stand by letter of credit is a document used to guarantee invoice payments to a supplier; it promises to pay the beneficiary if the buyer fails to pay.
Irrevocable letter of credit Irrevocable letter of credit refers to a letter of credit issued by a bank that cannot be canceled or amended without the beneficiary’s approval.
Bank Letter of Credit Policy Bank Letter of Credit Policy is a policy that enables banks to confirm letters of credit by foreign banks supporting the purchase of U.S. exports.
Letter of credit Letter of credit is a legal notice in which a bank or other institution guarantees the credit of one of its customers who is borrowing from another institution.
Revolving Letter of Credit Revolving Letter of Credit is a Letter of Credit in which the value of the Letter of Credit is automatically reinstated upon utilization. A Letter of
Standby Letter of Credit Standby Letter of Credit is a form of guarantee such as a demand guarantee. Used as security for a contingent event i.e. an importer failing
Letter of Credit (L/C) A letter of credit, abbreviated L/C, is a bank’s conditional promise to pay issued by a bank at the request of an importer , in which the bank promise to pay an exporter...
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