Letter of Credit
- Business
What is Restricted Letter of Credit in Foreign Trade
Restricted Letter of Credit. The issuing bank may restrict the negotiation of the documents under the letter of credit to…
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The Responsibilities of the Parties to the Red Clause Letter of Credit
Red Clause Letter of Credit. Also known as `packing’ or ‘anticipatory’ credit, the letter of credit contains a clause usually…
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Precautions to be taken when Opening a Back-to-Back Letter of Credit against an irrevocable letter of credit
Back-to-back Credit. Where the beneficiary under a letter of credit is an intermediary procuring goods from suppliers and likes the…
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What is a Transferable Letter of Credit
A transferable credit is one under which the exporter has the right to make the credit available to third parties.…
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The Mechanism of a Revolving Letter of Credit in Foreign Trade
Revolving Letter of Credit. A fixed or non-revolving letter of credit is one in which the limit is reduced permanently…
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Exemplary Actions in Case of Revocable Letter of Credit
On 10th October 1991, you have negotiated export documents valued at US $ 5,500 under ‘Revocable Letter of Credit’, valid…
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What if L/C has been Issued by Importer Himself
Your bank issued an irrevocable LC favoring a Australian Exporter through your Brisbane Branch which confirmed it for one Million…
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What are Confirmed and Unconfirmed Letter of Credits
Confirmed and Unconfirmed Credits. When a letter of credit is advised to the beneficiary through a bank in the beneficiary’s…
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Difference Between Revocable and Irrevocable Letter of Credit
The most acceptable method of financing trade is by confirmed irrevocable letter of credit from the viewpoint of both the…
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What is Acceptance Credit in Letter of Credit
Acceptance Credit. An acceptance credit calls for a usance bill of ex-change of a specified period to be drawn under…
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