Advertisements
Advertisements
Question
What is the Letter of credit?
Advertisements
Solution
Letter of Credit (LC) is an undertaking by its issuer (importer’s bank) that bills of exchange drawn by the foreign dealer on the importer will be honoured upon its presentation by exporter’s bank up to a specified amount.
APPEARS IN
RELATED QUESTIONS
Study the following case/situation and express your opinion.
Anurag is selling goods to Japan Kavita is buying goods from USA where as Ganesh 1s buying raw material from South Africa and after processing it sells finished goods to Malaysia.
Who is importer?
Answer in brief.
Explain preliminary stage of import procedure.
What is export trade? Explain its procedure in detail.
STC is expansion for ______.
What are the contents of Indents?
What is Bill of Lading?
Distinguish between Bill of Lading and Charter Party
What does import trade refer to?
Which of the following is an objective of import trade?
Which of the following best illustrates a disadvantage of excessive import trade?
