Saturday, August 24, 2019
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When Issuing Bank is also Applicant of a Letter of Credit: Islamic Finance, Leasing...

Applicant means the party on whose request the credit is issued. Applicant is the importer in a typical international commercial letter of credit. Issuing bank...
banks in letters of credit

Banks in Letter of Credit

Banks play a key role in letters of credit transactions. They start and end the L/C operations. They also decide either refusal of the documents...
Reimbursement and Reimbursing Bank

Reimbursement and Reimbursing Bank

What Does Reimbursement Mean? Reimbursement is defined as a compensation paid to someone for an expense. In order to be reimbursed by another person or organisation,...
What does "with recourse" and "without recourse" mean in international letter of credit transaction?

What Does “With Recourse” and “Without Recourse” Mean in International Finance?

Recourse means the right to claim a refund of an amount paid in connection with the negotiation of a documentary credit or the discounting...
confirming bank

Confirming Bank

If you would like to export your goods to one of the high risk countries and you would like to eliminate default risk of...
nominated bankvideo

Nominated Bank

Nominated bank is another important yet not well understood term in international letter of credit transactions. May be the biggest contribution of this lack of...
advising bank

Advising Bank

Advising Bank is the bank that advises the letter of credit to the beneficiary. Advising banks act upon the request of issuing banks. Generally, advising...
issuing bank

Issuing Bank

Letter of credit is opened and finalized by the issuing bank. The issuing bank is the institution that gives ultimate irrevocable and conditional payment guarantee...
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