Tag: Letter of Credit Types
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...
Presentation – Types of Letters of Credit
Commercial Letters of Credit
Commercial credits are used mainly in export and import transactions of tangible goods.
Majority of commercial letters of credit are...
Revolving Letter of Credit
Revolving letter of credit is a special type of letter of credit, which is not covered under the UCP 600 rules.
Contrary to popular belief,...
Red Clause Letter of Credit Sample
Letter of credit that carries a provision (traditionally written or typed in red ink) which allows a seller to draw up to a fixed...
At Sight Letter of Credit
According to the current letters of credit rules, UCP 600, credits must state how they are available to beneficiaries in terms of payment type.
UCP...
What are the Differences Between Standby Letters of Credit and Commercial Letters of Credit?
Standby letters of credit and commercial letters of credit are two main documentary credit types used in international trade transactions.
A standby letter of credit...
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...
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