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Articles on Letter Of Credit

11 August 2022

Letter of Credit (LC) - Meaning, Process & Role In International Trade

LCs or letter of credit is a documentary credit governed by the UCP 600 and is an instrument to guarantee payments. Learn all about what it is, how does it work, risks and disadvantages.

Articles on Letter Of Credit

16 June 2022

What is a Back to Back Letter of Credit (LC) in Import-Export

When a transaction takes place between a buyer and a seller keeping an intermediary in the loop, the type of LC used in such cases is known as 'Back to Back letter of credit'. In this article get a complete understanding of what is a Back to Back LC, how it works with an example, its format, terms & conditions and associated risks.

Articles on Letter Of Credit

04 May 2022

The Different Types of Letter of Credit Used in Import-Export

There are several types of letter of credit which are used by businesses for International or Domestic trade transactions. It is important to understand these types and their purpose, to use the appropriate letter of credit for your trade transaction.

Articles on Letter Of Credit

04 May 2022

LC at Sight | Meaning & Complete process

A sight letter of credit is a document which stands as a proof of payment in return of the goods or services to be released for the transportation by the seller. Once the goods or services reach the buyer, the buyer has to pay the financial institution that provided the Sight LC.

Articles on Letter Of Credit

04 May 2022

Irrevocable Letter of Credit | What is it & How does it work

An ILOC gives the seller a guarantee that he/she will receive the fixed amount due, and also by the right time from the buyer. An ILOC provides added risk protection for the seller by promising a guarantee from both the buyer's and the seller's bank.

Articles on Letter Of Credit

04 May 2022

Standby Letter of Credit [SBLC] | Examples, Costs & Process

‘Standby Letter of Credit (SBLC) (both revocable & irrevocable) are types of letters of credit (LC) where the issuing bank commits to pay to the beneficiary if the applicant fails to make the payment.

Letter of Credit (LC) - Meaning, Process & Role In International Trade

What is a Back to Back Letter of Credit (LC) in Import-Export

The Different Types of Letter of Credit Used in Import-Export

LC at Sight | Meaning & Complete process

Irrevocable Letter of Credit | What is it & How does it work

Standby Letter of Credit [SBLC] | Examples, Costs & Process

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