Tag: Discounting a Letter of Credit
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...
Letter of Credit Discounting
Letter of credit is not a cheque, but rather it is a conditional payment undertaking of the issuing bank.
As a result a beneficiary first...