Banking Law and RegulationTU Board 2024
A letter of credit (LC) is a payment instrument used in international transactions. Where a bank / issuing importer's bank guarantees payment to the exporter on behalf of the importer via remitting…
10A letter of credit (LC) is a payment instrument used in international transactions. Where a bank / issuing importer's bank guarantees payment to the exporter on behalf of the importer via remitting bank/bank exporter's if both parties fulfill their obligations. In this context enlist and explain the operational mechanism of LC.
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