letter of Credit | Lc | letter of credit meaning | letter of credit basics Video

In this tutorial we explained about letter of credit procedure in hindi
how does letter of credit work | letter of credit negotiation
Letter of Credit | standby letter of credit

An arrangement whereby a bank,
acting at the request of a customer,
undertakes to pay a third party
by a given date
according to agreed stipulation and
against presentation of documents,
the counter–value of goods or services dispatched / supplied, rendered or otherwise

or

Documentary Credits like a “Letter of Credit” or “L/C” is the most preferred form of payment for goods in international trade as it solves issues of mutual mistrust by using banks as arbiters



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