Difference Between Confirmed And Unconfirmed Letter of Credit (Communities - Services Offered)

Item ID 9365449 in Category: Communities - Services Offered

Difference Between Confirmed And Unconfirmed Letter of Credit
A confirmed letter of credit gives the seller or exporter a payment assurance from a second bank, often known as a confirming bank. If the first bank is unable to pay, the second bank is expected to complete the payment. This is an international trade payment technique. Having security is the key justification for getting a letter of credit of any kind, especially for the seller. A letter of credit holder or seller in a global transaction must be certain that, if the payment terms are followed, they will get payment from the issuing bank. This isn't always the scenario, although. The business owner might at times be unsure of whether they would receive payment for his purchases or not. Numerous reasons, such as the issuing bank's dubious creditworthiness or the political or economic fragility linked to its location, can contribute to this anxiety.
Related Link: Click here to visit item owner's website (1 hit)

Target Nation: All Nations Target City : London Last Update : 24 August 2023 10:10 AM Number of Views: 75	Item Owner : Kenneth Jackson Contact Email: Contact Phone: 02030597831

Friendly reminder: Click here to read some tips.

2024-05-28 (0.255 sec)