Results for letter of credit: 29

Legitimate letters of credit are never sold or offered as investments.

Some of the Documents Called for under a 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 standby.

Exporters expecting to be paid under a letter of credit (referred to in this article as "LC" or "Credit") may be sadly disappointed.

Check that the letter of credit states that it is subject to the 1993 revision of the Uniform Customs and Practice for Documentary Credits (UCP)...

Although documentary credits are enforceable once communicated to the beneficiary, it is difficult to show any consideration given by the beneficiary to the banker prior to the tender of documents.

Detailed Checks Immediately on Receipt of the Credit When checking your credit under the headings below, remember that UCP 600 will apply fully unless...

When Compiling Documents for Presentation to the Bank Ensure that: Documents presented in the credit are presented as separate documents...

If There Are Discrepancies Unless you can correct discrepancies in time you will lose your right to payment under the credit and all the cost and effort...

* Letters of credit for Viacom cut to $25 mln from $75 mln * Blockbuster shares up more than 37 pct * Analysts cite improved credit outlook (Adds analyst comment, updates shares) SAN FRANCISCO/NEW YORK,...