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Letter Of Credit

Letter Of Credit

Submitted by • November 16, 2019 bit.ly

A letter of credit ("LC") is a flexible and internationally accepted form of financial guarantee. What it does depends upon what it says. But with that caveat, it is commonly organised to support the trade in goods. In this situation, it is transmitted by the importer's bank to the exporter's bank.

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Voted by Primadollar2

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