What is a letter of credit and how does it work?-Letter of credit

First published at 09:52 UTC on March 28th, 2021.

A letter of credit or “credit letter” is a letter from a financial institution guaranteeing that a customer’s settlement to a vendor will be obtained promptly and for the correct quantity. In the event that the buyer is unable to make a settlement o…

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CategoryEducation
SensitivityNormal - Content that is suitable for ages 16 and over