Letter of credit
This query is : Resolved
30 November 2013
www.youtube.com/watch?v=3KGhMXd_rN4
A letter of credit is a means of payment( a payment term in real sense,where seller has a commanding position) in a domestic or international transactions and is a secured process for receiving payment by a seller/exporter.
In a letter of credit transaction, there is a seller ( called beneficiary), a buyer, letter of credit opening bank and a bank advising letter of credit to seller.
I would request you to see a small video in youtube referred above.Your banker will advise you in detail about the process, conditions, charges etc.
A letter of credit is a means of payment( a payment term in real sense,where seller has a commanding position) in a domestic or international transactions and is a secured process for receiving payment by a seller/exporter.
In a letter of credit transaction, there is a seller ( called beneficiary), a buyer, letter of credit opening bank and a bank advising letter of credit to seller.
I would request you to see a small video in youtube referred above.Your banker will advise you in detail about the process, conditions, charges etc.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Price inclusive or exclusive of GST while made entry in P& L Account
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Applicability of GST on Salary Reimbursement Component
- Minimum tax payable to file Updated return
- Tds on commission charges
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- Dep. as per companies act
- Salary from Qatar in Dollars in India
- Renovation exp. in flat by family member
- Need Professional Opinion AY 2012-13 Old Demand
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
Quick Links
ARTICLESHIP
16 September 2026
Article Assistant
MANUJ SHARMA AND COMPANY
Noida
CA Inter
View Details
ARTICLESHIP
18 September 2026
Industrial Trainee
Twenty Point Nine Five Ventures Private Limited
Noida
CA Inter
View Details
CCI
Pro
CAclubindia
