What is Letter of Credit | Letter of Credit Explained |What is LC| LC Process | Documentary Credit
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What is Letter of Credit | Letter of Credit Explained |What is LC| LC Process | Documentary Credit
1. What is a letter of credit? A Letter issued by the bank to another bank to serve as a guarantee for payments made to a specified person under specified conditions. 2. LC/letter of credit explained. A letter of credit is essentially a financial contract between a bank, a bank,s customer, and the beneficiary. Generally issued by an importer's ...
2K viewsMay 23, 2022
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