A letter of credit (LC) is a payment instrument used in international trade to provide an economic assurance from a creditworthy bank to a products exporter.
A Letter of Undertaking (LOU) is a bank assurance offered on behalf of the customer to another bank for loan repayment. The LOU is typically used when a person imports anything from another country.
A Letter of Credit (LC) is a document that guarantees payment to the seller by the buyer. It is given by a bank and ensures that the seller is paid on time and in full. If the buyer is unable to make such a payment, the bank pays the entire or remaining balance on the buyer's behalf.
A Letter of Credit is a type of payment that is commonly used in overseas commerce. It is essentially a method that allows importers/buyers to offer secure payment terms to exporters/sellers through the involvement of a bank (or multiple banks).
Commercial, Export/Import, Transferable and Non-Transferable, Revocable and Irrevocable, Stand-by, Confirmed, and Unconfirmed, Revolving, Back to Back, Red Clause, Green Clause, Sight, Deferred Payment, and Direct Pay LC are the different types. In trade operations, a letter of credit is an important financial tool.
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Jay Vyas
5
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.
Abhay chaturvedi
5
Very nice 👍❤️
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Anuj Tyagi
5
This course is Good and the way of teaching is also good. Every minor details are provided in an easy way.
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Mohammad Zafar Khan
5
awesome
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Prabhat Yadav
5
Superb and amazing 😍🤩 enjoyable experience.
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Tejaswini Chikane
5
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Akash Kumar Parashar
5
Sir what will be the CBM of a drum having 14*22" and weight 25Kg and no of drums is 40 ?
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Subhash Rajput
5
Star hiro
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Sumant Andhare
5
Very informative course
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Himanshu Kulshreshtha
5
Dear Sir,
Myself Himanshu Kulshreshtha and I have attended the training The Export Import Course from https://www.learnvern.com. I am highly thankful for the training that I have received.
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