LETTER OF CREDIT
This query is : Resolved
04 October 2016
what is the difference between letter of credit and letter of comfort? pls explain..
Dr.RAMAKRISHNA. C
(Expert)
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
Dr.RAMAKRISHNA. C
(Expert)
06 October 2016
There are no practical examples. They are commercial documents in International Trade.
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