Tag: Confirming Bank
Presentation – Parties to the Letter of Credit
Issuing Bank
Issuing Bank is the bank that issues a letter of credit at the request of an applicant or its own behalf.
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...
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...
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
If you would like to export your goods to one of the high risk countries and you would like to eliminate default risk of...
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...
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...
Parties to Letters of Credit
This page deals with the parties of the letter of credit.
Main parties of a typical letter of credit transaction are applicant, beneficiary, issuing bank, confirming bank, nominated bank,...
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