Letter of Credit Guide - Features, Importance & When To Use It
Description
A Letter of Credit or “Payment Credit Letter” is a legal document issued from a bank, guaranteeing that the seller will receive their payment on-time from the buyer for their delivered services with the said amount. In the event, if the buyer is not capable of making the payment or performing the terms & conditions of the agreement on-time, then, the issuing bank will be responsible to cover the full or remaining amount from the importer.
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