What Is Letter Of Credit In Hindi. For example, say a u.s. A letter of credit (lc), also known as a documentary credit or bankers commercial credit, or letter of undertaking (lou), is a payment mechanism used in international trade to provide an economic guarantee from a creditworthy bank to an exporter of goods.
Confirmed letter of credit l/c. Find more hindi words at wordhippo.com! A red clause letter of credit is an unsecured loan that a buyer extends to the seller, considered an advance.
This type of credit is generally used in local trade and sometimes for import also.
A letter of credit is a document provided by a third party who verifies the payment for the associated goods or services will be paid. A letter of credit is a formal, binding legal agreement between an importer and foreign seller. A letter of credit is the buyer’s banker’s promise to the bank of the seller / exporter that the bank will honor the invoice presented by the exporter on due date and make payment, provided that the seller/exporter has complied with all the requirements and conditions set by the importer in the said letter of credit or the buyer’s. This type of credit is generally used in local trade and sometimes for import also.