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Presentation – Parties to the Letter of Credit

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 letters of credit

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 letter of credit transaction?

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 bankvideo

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 letter of credit

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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