Export Letter of Credit (Advising, Confirmation, Negotiation, and Discounting) A Letter of Credit (LC) is a promise made by the LC issuing bank / on behalf of the importer (buyer) to pay for goods upon presentation of verifiable evidence of shipment in strict accordance with the LC's terms and conditions.
One of the primary parties engaged in a Letter of Credit is the negotiating bank. The negotiating bank is the one in charge of negotiating paperwork provided to the bank by the LC beneficiary. To avoid errors, the negotiating bank verifies documents and confirms the terms and conditions of the LC on behalf of the recipient.
A line of credit is a type of finance that Exim Bank uses to help companies export projects, equipment, goods, and services from India.
An Import Letter of Credit is a financial document issued by a bank that indicates the bank's promise on behalf of an importer to make payment to the exporter if the terms and conditions mentioned in the Letter of Credit are met.
Simply said, export bill discounting with banks occurs for shipments that do not require a Letter of Credit. When shipments are made on a letter of credit basis, the term "export bill negotiation" is used.
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Jay Vyas
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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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Yadvendra Kumawat
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कोर्स के अंदर जो आप प्रक्रिया बताते हैं उसे कैसे संबंधित दस्तावेज भी बताएं और दस्तावेजों में को कैसे भरना है इससे संबंधित भी वीडियो बनाएं बहुत अच्छा होगा
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Mohammad Altaf
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I wants to write lots of things for appreciate but firstly I need to confirm one doubt. But it's very useful.
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Dinesh Kumar
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यह कोर्स मेरे लिए उतना ही प्रभावशाली और जरूरी है जैसे एक इंसान को सांस की जरूरत होती है
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Limbasiya Dax
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Harshvardhan Maharnur
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Dinesh Kumar
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Mere Hisab Se Isase Accha Course Ho Hi Nahi Sakata Etana Details Me Aur Etena Acchi Tarah Se Samajhaya Gaya H Ki Age Kucch Kahane Ke Liye Nahi Bachata Agar Ek Shabd Me Kahun To Superb.
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Ramesh Solanki
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Awesome, I want to know about exim word during questionaire what it indicates ?
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