LETTER OF CREDIT

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TANVI

TANVI (Querist)
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04 October 2016 what is the difference between letter of credit and letter of comfort? pls explain..

Dr.RAMAKRISHNA. C

Dr.RAMAKRISHNA. C (Expert)
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04 October 2016 Letter of credit is an undertaking through bnking channerl from buyer to seller ( beneficiary) undertaking to purchase merchandise subject to proof of submission of documents on shipment of goods. Letter of comfort is an assurance about a debt, short of a legal guarantee, given to a bank by a third party

TANVI

TANVI (Querist)
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04 October 2016 sir, can you elaborate more by giving a practical example?

Dr.RAMAKRISHNA. C

Dr.RAMAKRISHNA. C (Expert)
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06 October 2016 There are no practical examples. They are commercial documents in International Trade.

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