Tag: Nominated 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...
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...
Nominated Bank
Nominated bank is another important yet not well understood term in international letter of credit transactions.
May be the biggest contribution of this lack of...
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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