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.
A letter of credit (LC) is a document that guarantees payment to the seller by the buyer. It's given by a bank and guarantees that the seller will be paid on time and in full. If the buyer is unable to make such a payment, the bank will cover the entire or remaining balance on the buyer's behalf.
A letter of credit is a document issued by a bank or financial institution guaranteeing that a seller will be paid on time and in full by a buyer.
A CAD transaction is less expensive for a buyer than an LC transaction, and it does not hold up financing like an LC transaction might. If the buyer refuses delivery and the vendor does not obtain payment, a CAD is riskier for the seller. At this point, the customer must pay for the product to be returned to its original location.
A bank's letter of credit assures that a seller will be paid if specific requirements are met. A letter of credit assures that, in the event that a foreign buyer alters or cancels an order, the seller will still be reimbursed by the buyer's bank for the shipping items, lowering production risk.
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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.
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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.
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sanjiv chouhan
5
sir saste mai buyer ka data kaise uper kre,iska koi solution hai to plz btaiye
R
Raj chauhan
5
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
5
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.
S
Subhadip Chakraborty
5
This course has helped me a lot to gain a good quality of knowledge that I can use in my future job opportunities.
S
Subhadip Chakraborty
5
This course has helped me a lot to gain a good quality of knowledge that I can use in my future job opportunities.
S
Subhadip Chakraborty
5
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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