What is a Letter of Credit?

Last Answer : Get StartedThis letter can be used to request that a positive credit reference be sent to a business. For example, Mary would like to purchase a product from ABC Company. ABC Company asks ... Mary can use this letter to request that XYZ Company provide positive credit information to ABC Company.

Letter Refusing to Pay for a Charge on your Credit Card?

Description : Letter Refusing to Pay for a Charge on your Credit Card?

Last Answer : Get StartedThis letter can be sent to a credit card company to refuse charges on your credit card account.Where appropriate, send a copy, not the original, of the statement and/or receipt to the card ... slips that do contain your full number or imprint of your credit card. Never give your card n

Letter to Request a Credit Report?

Description : Letter to Request a Credit Report?

Last Answer : Get StartedIf you have been denied credit or if other adverse actions regarding your credit have been taken based on your credit report, you may want to obtain a copy of your credit report and verify ... your credit report you should carefully review it. You have the right to respond to a negative e

Letter of Credit?

Description : Letter of Credit?

Last Answer : Letter of Credit(Download)Date: _________LETTER OF CREDIT (GENERAL)______________________________________________________________________________Sir:We hereby agree to accept and pay at maturity any draft or drafts on us, ... will suffice.1. Make multiple copies. Give one to each related party and

What's the difference between a bank guarantee and a letter of credit?

Description : What's the difference between a bank guarantee and a letter of credit?

Last Answer : Letter of credit is a financial paper for guaranteed payments, whereas a bank guarantee is a guarantee given by the bank to the beneficiary on account of the applicant, to begin payment if the applicant defaults in payment. If you're looking for one, then Pepagora Trade Finance offers these services

Letter of Credit is presented by– (A) Exporter (B) Importer (C) Custom Officer (D) Shipping Company

Description : Letter of Credit is presented by– (A) Exporter (B) Importer (C) Custom Officer (D) Shipping Company

Last Answer : Answer: Importer

Banks issue a letter to beneficiary on behalf of its constituents like guarantee for making payment on their behalf on fulfilment of its terms and conditions. What is this arrangement known in banking context? A. Line of Credit B. Loan to Client C. Loan on Credit D. Letter of Credit

Description : Banks issue a letter to beneficiary on behalf of its constituents like guarantee for making payment on their behalf on fulfilment of its terms and conditions. What is this arrangement known in banking context? A. Line of Credit B. Loan to Client C. Loan on Credit D. Letter of Credit

Last Answer : D. Letter of Credit Explanation: A letter issued by a bank to another bank (especially one in a different country) to serve as a guarantee for payments made to a specified person under specified conditions.

Which of the following may be required as additional documents in a letter of credit? A. commercial invoice B. insurance document C. consular invoice D. certificate of origin E. all of the above

Description : Which of the following may be required as additional documents in a letter of credit? A. commercial invoice B. insurance document C. consular invoice D. certificate of origin E. all of the above

Last Answer : E. all of the above

If an exporter is doubtful about an issuing bank's ability to pay, he will expect a domestic bank to join the transaction in a _____ letter of credit. A. revolving B. irrevocable C. revocable D. unconfirmed E. confirmed

Description : If an exporter is doubtful about an issuing bank's ability to pay, he will expect a domestic bank to join the transaction in a _____ letter of credit. A. revolving B. irrevocable C. revocable D. unconfirmed E. confirmed

Last Answer : E. confirmed

If a letter of credit can be neither cancelled nor modified without the consent of all parties, it is known as _____. A. revolving B. irrevocable C. revocable D. unconfirmed E. unclean

Description : If a letter of credit can be neither cancelled nor modified without the consent of all parties, it is known as _____. A. revolving B. irrevocable C. revocable D. unconfirmed E. unclean

Last Answer : B. irrevocable

Which of the following is not true of a letter of credit? A. it is a document B. issued by a bank C. at the request of the exporter D. the bank agrees to honor a draft drawn on the importer E. payable in the designated currency

Description : Which of the following is not true of a letter of credit? A. it is a document B. issued by a bank C. at the request of the exporter D. the bank agrees to honor a draft drawn on the importer E. payable in the designated currency

Last Answer : C. at the request of the exporter

Which of the following is not an important document in foreign trade? A. a check for the value of goods B. a draft C. bill of lading D. a letter of credit E. none of the above

Description : Which of the following is not an important document in foreign trade? A. a check for the value of goods B. a draft C. bill of lading D. a letter of credit E. none of the above

Last Answer : A. a check for the value of goods

Letter of Credit is issued by a. IMF b. WTO c. Importer’s Bank d. Exporters Bank

Description : Letter of Credit is issued by a. IMF b. WTO c. Importer’s Bank d. Exporters Bank

Last Answer : c. Importer’s Bank

What is a Letter of Credit?

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