Revocable and Irrevocable Letters of Credit
Revocable Letters of Credit: Revocable letter of credit can be modified or cancelled by the issuing bank after its issuance at any moment without...
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...
Types of Standby Letters of Credit
What are the Main Types of Stand-by Letters of Credit?
In this post after giving the standby letter of credit (SBLC) definition, we will have...
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...
Stand-by Letters of Credit
Classification of Letters of Credit
Documentary credits, however named, have certain characteristics in common.
First of all, they are separate transactions by their nature from the...
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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