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18 December 2013 Can anyone say Differance b/w BANK GUARANTEE And LETTER CREDIT. full explanation pl.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
18 December 2013 Bank guarantee means money deposited with bank so that in case of default by depositer the suffering party can collect it from bank.

Letter of credit is same but it is in relation to imports and importer is depositer and if he fails then exporting co can claim money from such bank who undertakes LOC.

hope u understood.
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