Types of Letters of Credit
Have you ever heard any of the following trade finance terms and wonder their meanings: red clause, confirmed, standby, irrevocable.
These are the terms that...
Confirmation and Confirmed Letter of Credit
When an irrevocable letter of credit is issued, the risk of payment rests with the issuing bank. This type of letter of credit is defined...
How to Add a Confirmation to a Letter of Credit?
Confirmation gives additional payment assurance to the exporters.
When an irrevocable letter of credit is issued, the risk of payment rests with the issuing bank....
Confirmation Fee
Confirmation fee can be defined as charges collected by the confirming banks, against the risks they will be having to posses by confirming the...
Confirmed Letter of Credit Sample
Confirmation means a definite undertaking of the confirming bank, in addition to that of the issuing bank, to honour or negotiate a complying presentation.
Confirming bank...
Confirmed L/C at Sight
Confirmed L/C at sight covers two definitions: Confirmed letter of credit which is payable at sight.
Letters of credit can permit the beneficiary to be...
Is It Possible to Confirm a Bank Guarantee?
In this article following topics will be explained:
What is the definition of confirmation in letters of credit?
What are the advantages of confirmation?
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