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Channel: ICAB TUTORIAL» Letter of Credit
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What are the Steps in the Operation of Letter of Credit

Letters of credit accomplish their purpose by substituting the credit of the bank for that of the customer, for the purpose of facilitating trade. There are basically two types: commercial and...

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Why Do Banks Sell Loans

Banks and financial institutions sell loans to manage their credit risk in efficient way. Loans sell remove assets and credit risk from the balance sheet and allow banks and financial institutions to...

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What is Letter of Credit

A letter of credit is basically a document issued by a bank guaranteeing a client’s ability to pay for goods or services. A bank or finance company issues a letter of credit on behalf of an importer or...

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Types of Letter of Credit

Letter of credit financing is a special export oriented services provided by banks and banks open inland or overseas letter of credit on back to bank basis on requesting the beneficiary of foreign...

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