LETTER OF CREDIT
This query is : Resolved
04 October 2016
what is the difference between letter of credit and letter of comfort? pls explain..
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
04 October 2016
sir, can you elaborate more by giving a practical example?
06 October 2016
There are no practical examples. They are commercial documents in International Trade.
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