Explain the following concept: Letter of Credit

Question

Explain the following concept: Letter of Credit

Explain the following concept:

Letter of Credit

Monjur Alahi

4 views

2025-01-04 04:42

1 Answers

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Salim Ahmed Kawsar · Accepted Answer · 2023-02-05T15:29:48+06:00

Salim Ahmed Kawsar

A letter of credit is a payment method generally used for international trade transactions. A letter of credit is issued by a bank on behalf of its client, promising to pay a certain amount of money to the seller in case the buyer fails to pay it.

4 views Answered 2023-02-05 15:29