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.
LearnVern, you are doing an awesome job by teaching for free.
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Captain Marvel
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Kunal Dugad Sir ! You nice learn to Import And Export for Free Of Cost - Thanks Kunal Dugad Sir and Learvern Team !
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Mr Asad
5
our first question is Blance of trade?
its means when you start your international trde to another country so you have a conttact a banl of finance instituions for money to devlope a products this is
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Mahant Burman
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Its Very Important For a Person who is Doing a Professional Course Have a depth knowledge and real world experience a part of book's knowledge.
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sanjiv chouhan
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sir saste mai buyer ka data kaise uper kre,iska koi solution hai to plz btaiye
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Raj chauhan
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what a way of teaching, love this course, THANK YOU SO MUCH SIR FOR MAKING SUCH A GREAT COURCES.
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Ajay Kumar
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I have taken another courses on the subject but this is the best course I have gone through. Mr Duggal has explained in such a way that even a new learner can understand very well. Recommended.
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Subhadip Chakraborty
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This course has helped me a lot to gain a good quality of knowledge that I can use in my future job opportunities.
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Subhadip Chakraborty
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This course has helped me a lot to gain a good quality of knowledge that I can use in my future job opportunities.
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Subhadip Chakraborty
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This course has helped me a lot to gain a good quality of knowledge that I can use in my future job opportunities.
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