A letter of credit is a financial agreement between a bank, its customer, and the beneficiary. The letter of credit, which is usually issued by an importer's bank, ensures that the beneficiary will be paid whenever the letter of credit's terms are met.
LG is commonly used in real estate contracts, infrastructure projects, constructions, project management, and other areas where LC is employed. The issuing bank issues a bank guarantee to the recipient, ensuring payment in the case of a delay or other defect.
The bank pays the sum to the beneficiary once the duty on the production of documentation on contract fulfilment is met. A bank guarantee, on the other hand, pays the beneficiary if the BG contract's obligations are not met.
Small firms use letters of credit and letters of guarantee, sometimes known as bank guarantees, to generate cash flow. Credit lines such as LCs and LGs guarantee payments for products and services.
A letter of credit, sometimes known as a "credit letter," is an assurance from a bank that a buyer's payment to a seller would be received on time and in the exact amount. The bank will be forced to cover the full or remaining price of the purchase if the buyer is unable to make a payment on the transaction.
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This is just awesome course. I gained so much knowledge about Import-Export Business by learning this course.
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great content. make new updated course please
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The course content is excellent, attractive, and understandable. If there is a detailed PDF of the course content, then it will be very helpful for viewers to revise the content.
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Abhishek Bharti
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The course offers comprehensive content on the export-import process, including documentation, regulations, and logistics. The instructor is experienced, sharing practical insights alongside theory. Hands-on assignments add value, though more real-world projects could enhance learning. The certification is well-recognized, adding credibility to a resume. While resources and flexibility are strong, student support could be faster. Overall, it provides excellent value for those seeking to advance in international trade.
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prabhat sharma
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how many companies of import and export are hiring ? please provide the list and is it possible to start it without office as an individual ?
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