When and who prepares Letter of credit and is any relation
with bill of exchange? pleas breaf with examle.
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Answer / saurabh jaiswal
When there is a foreign transaction,the exporter write
letter od credit.A letter of credit is essentially a
promissory note from your bank for an exporter. It is used
to build trust in business relationships, especially with
internal business transactions.
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Answer / sajjad1
Dear Letter of Credit is write by the importer to exporter
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / abdul
Letter of credit is Letter from bank to receive our loan
amount for exporting materials purchased.usually banks
first give that amount,after taking that loan amount
through our foriegn buyers paid our payment like bill of
exchange with interest.
| Is This Answer Correct ? | 2 Yes | 1 No |
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