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Letter of Credit Archives - All About Finance https://taxclick.org/tag/letter-of-credit/ Sat, 30 Jul 2016 09:01:08 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.1 https://taxclick.org/wp-content/uploads/2021/11/favicon.png Letter of Credit Archives - All About Finance https://taxclick.org/tag/letter-of-credit/ 32 32 Different Types of Letter of Credit (L/C) https://taxclick.org/type/exim/different-types-of-letter-of-credit-l-c/?utm_source=rss&utm_medium=rss&utm_campaign=different-types-of-letter-of-credit-l-c https://taxclick.org/type/exim/different-types-of-letter-of-credit-l-c/#respond Fri, 01 Aug 2014 18:30:00 +0000 1)     Documentary Letter Of Credit : In this type of letter of credit, it is obligatory to send documents of title to goods along with bill of exchange. If the bill of exchange is not accompanied by these documents the bank may not honor the bill of exchange. By document we mean export document which ... Read more

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]]> https://taxclick.org/type/exim/different-types-of-letter-of-credit-l-c/feed/ 0 Different methods of payment in international trade https://taxclick.org/type/exim/different-methods-of-payment-in-international-trade/?utm_source=rss&utm_medium=rss&utm_campaign=different-methods-of-payment-in-international-trade https://taxclick.org/type/exim/different-methods-of-payment-in-international-trade/#respond Sat, 12 Jul 2014 18:30:00 +0000 Payment terms are very important aspects in the import export trade. In international trade there are different methods of making the payments. Let’s understand all methods one by one. 1.  Advance Payment  When exports receive the payment first and ship the goods subsequently, it is called as advance payment. It is good for exporter as ... Read more

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]]> https://taxclick.org/type/exim/different-methods-of-payment-in-international-trade/feed/ 0 Meaning of Letter of Credit, Steps of L/C transactions and advantages and disadvantaged of Letter of Credit https://taxclick.org/type/exim/meaning-of-letter-of-credit-steps-of-l-c-transactions-and-advantages-and-disadvantaged-of-letter-of-credit/?utm_source=rss&utm_medium=rss&utm_campaign=meaning-of-letter-of-credit-steps-of-l-c-transactions-and-advantages-and-disadvantaged-of-letter-of-credit https://taxclick.org/type/exim/meaning-of-letter-of-credit-steps-of-l-c-transactions-and-advantages-and-disadvantaged-of-letter-of-credit/#comments Sat, 12 Jul 2014 18:30:00 +0000 Meaning Letter of credit is the written instrument issued by the importer’s (buyer’s) bank to the exporters (seller).  L/C is the guarantee given by buyer’s banks to remit the amount to the seller according to the terms and conditions based on the contractual agreement between buyer and seller.  L/C is the most reliable and acceptable ... Read more

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