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
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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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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.
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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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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 good amount of knowledge that I can apply in my future opportunities.
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Fazlurrahman Khan
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I am happy from this course I want pdf of lectures if will be available that would be very beneficial for Us
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Atul Marathe
5
Easy and simple way of teaching.
Thank you for taking this effort Kunal sir.
How i can connect with you as starting export business. I want you to become mentor for me
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Radha Rani Birla
5
Thank you so much. Kunal sir explanation is simple & precise. I could understand all the concepts well.
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Radha Rani Birla
5
Thank you so much. Kunal sir explanation is simple & precise. I could understand all the concepts well.
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