What is letter of credit? What are the differrent types of LOC?

Chandra Sekhar Reddy , Last updated: 27 April 2020  
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Definition of Letter of credit:- A written document issued by the bank on request of its customer, promising to pay specified sum in a specified currency by a buyers (or importers) bank i.e. issuing bank to the sellers (beneficiary or exporters) bank i.e. accepting bank or negotiating bank or pay

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Published by

Chandra Sekhar Reddy
(Financial Analyst)
Category Accounts   Report

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