Title: Letter of Credit

Essay Details

Subject: Business
Author: Valerie R
Date: July 7, 2014
Level: University
Grade: A
Length: 7 / 2019
No of views: 0
Essay rating: good 0, average 0, bad 0 (total score: 0)

Essay text:

It is often used in international trade to eliminate risks such as unfamiliarity with the foreign country, customs, or political instability. Mechanism of Letter of Credit: Here we assume that the payment will be made by the advising bank. Here we go ahead to explain the steps: 1. Here there is a contract between the exporter and the customer in which the need for a Letter of Credit is specified...

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Here we go ahead to explain the steps: 1. Here there is a contract between the exporter and the customer in which the need for a Letter of Credit is specified. 2. Then the customer requests his bank to issue a Letter of Credit. 3. Customer’s bank then issues a Letter of Credit via the Advising Bank...

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