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...
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...
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....
What are the Differences Between MT 700 and MT 760?
MT700 and MT760 swift message types that banks use when issuing documentary credits and guarantees, respectively.
Banks use MT700 when issuing a commercial letter...
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?
...
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...
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