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Answer Posted / avi
Letter of credit generally the shortform is used "LC" LC
means businessman can buy the product on credit from the
manufacturer by opening lc from bank & payment directly
paid to the manufacturer by bank against the bill. & bank
will charge interest on businessment. proferma of letter of
credit shows 1. date 2. no. 3. Party name 4 Particulars of
goods 5 Qty. of goods 6 Value of goods 7. Credit days 8.
rate of interest 8. due date.9. acceptance from goods
receiver. mentioned by the lc issuer.
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