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.
Learner's Ratings
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Reviews
J
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.
C
chauhan vijay
5
What a course..... thank u so much for this opportunity...
R
Raj kalariya
5
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.
A
Abhishek Bharti
5
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.
P
prabhat sharma
5
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 ?
N
Navghanji Sorabji Thakor
5
Nice
C
Captain Marvel
5
Kunal Dugad Sir ! You nice learn to Import And Export for Free Of Cost - Thanks Kunal Dugad Sir and Learvern Team !
M
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
M
Mahant Burman
5
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.
S
sanjiv chouhan
5
sir saste mai buyer ka data kaise uper kre,iska koi solution hai to plz btaiye
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