No products in the cart.

What is letter of credit? Discuss …

CBSE, JEE, NEET, CUET

CBSE, JEE, NEET, CUET

Question Bank, Mock Tests, Exam Papers

NCERT Solutions, Sample Papers, Notes, Videos

What is letter of credit? Discuss the various types of letters of credit used in international business.

Posted by Natasha Mishra 3 years, 11 months ago

CBSE > Class 11 > Business Studies

1 answers

Yogita Ingle 3 years, 11 months ago

It is a guarantee letter issued by the importer’s bank stating that it will honour the export bills to the bank of the exporter upto a certain amount.

Commercial Letter of Credit

This is a standard letter of credit that’s commonly used in international trade, and may also be referred to as a documentary credit or an import/export letter of credit. A bank acts as a neutral third party to release funds when all the conditions of the agreement have been met.

Standby Letter of Credit

This type of letter of credit is different: It provides payment if something fails to happen. Instead of facilitating a transaction, a standby letter of credit provides compensation when something goes wrong.

Back-to-Back Letters of Credit

A back to back letter of credit allows intermediaries to connect buyers and sellers

ANSWER

http://mycbseguide.com/examin8/

Related Questions

describe all the types of banks, commercial bank, cooperative bank, specialised bank, central bank....

Posted by Harshita Modi 4 months, 3 weeks ago

CBSE > Class 11 > Business Studies

0 answers

Shubhash dey class 11 bst ch3 cbq

Posted by Anishka Bephlawat 3 months, 3 weeks ago

CBSE > Class 11 > Business Studies

0 answers

This content has been hidden. One or more users have flagged this content as inappropriate. Once content is flagged, it is hidden from users and is reviewed by myCBSEguide team against our Community Guidelines. If content is found in violation, the user posting this content will be banned for 30 days from using Homework help section. Suspended users will receive error while adding question or answer. Question comments have also been disabled. Read community guidelines at https://mycbseguide.com/community-guidelines.html

Few rules to keep homework help section safe, clean and informative.

Don't post personal information, mobile numbers and other details.
Don't use this platform for chatting, social networking and making friends. This platform is meant only for asking subject specific and study related questions.
Be nice and polite and avoid rude and abusive language. Avoid inappropriate language and attention, vulgar terms and anything sexually suggestive. Avoid harassment and bullying.
Ask specific question which are clear and concise.

Remember the goal of this website is to share knowledge and learn from each other. Ask questions and help others by answering questions.

Posted by Sanya Miglani 4 months, 2 weeks ago

CBSE > Class 11 > Business Studies

0 answers

case study on apples from kashmir and himachal pradesh 1. research for change in price of apples in plucking and non plucking season 2. effect on price in the absence of effective transport system 3. effect on price in the absence of suitable warehouse facilities 4. role of warehouse 5. demand and supply situation of the apple during harvesting season 6. price near the place of origin and away.

Posted by Valiant Rider 4 months ago

CBSE > Class 11 > Business Studies

0 answers

Have you ever witnesses any shop or a business get in closed in your locality.interact with the owner to find out the reason for it closer or losses incurred. Prepare a project report on the factor to be considered for starting any business

Posted by Rajesh Agrawal 4 months, 2 weeks ago

CBSE > Class 11 > Business Studies

1 answers

What's the business

Posted by Ranjit Verma 4 months, 2 weeks ago

CBSE > Class 11 > Business Studies

0 answers

This content has been hidden. One or more users have flagged this content as inappropriate. Once content is flagged, it is hidden from users and is reviewed by myCBSEguide team against our Community Guidelines. If content is found in violation, the user posting this content will be banned for 30 days from using Homework help section. Suspended users will receive error while adding question or answer. Question comments have also been disabled. Read community guidelines at https://mycbseguide.com/community-guidelines.html

Few rules to keep homework help section safe, clean and informative.

Don't post personal information, mobile numbers and other details.
Don't use this platform for chatting, social networking and making friends. This platform is meant only for asking subject specific and study related questions.
Be nice and polite and avoid rude and abusive language. Avoid inappropriate language and attention, vulgar terms and anything sexually suggestive. Avoid harassment and bullying.
Ask specific question which are clear and concise.

Remember the goal of this website is to share knowledge and learn from each other. Ask questions and help others by answering questions.

Posted by Shally Sinha 4 months, 2 weeks ago

CBSE > Class 11 > Business Studies

0 answers

This content has been hidden. One or more users have flagged this content as inappropriate. Once content is flagged, it is hidden from users and is reviewed by myCBSEguide team against our Community Guidelines. If content is found in violation, the user posting this content will be banned for 30 days from using Homework help section. Suspended users will receive error while adding question or answer. Question comments have also been disabled. Read community guidelines at https://mycbseguide.com/community-guidelines.html

Few rules to keep homework help section safe, clean and informative.

Don't post personal information, mobile numbers and other details.
Don't use this platform for chatting, social networking and making friends. This platform is meant only for asking subject specific and study related questions.
Be nice and polite and avoid rude and abusive language. Avoid inappropriate language and attention, vulgar terms and anything sexually suggestive. Avoid harassment and bullying.
Ask specific question which are clear and concise.

Remember the goal of this website is to share knowledge and learn from each other. Ask questions and help others by answering questions.

Posted by Nikunj Mittal 4 months, 2 weeks ago

CBSE > Class 11 > Business Studies

0 answers

Why are global enterprises considered superior to other business organisation

Posted by Amandeep Kaur 4 months, 3 weeks ago

CBSE > Class 11 > Business Studies

0 answers

Create a blue print of 12-15 pages on case study on a product topic- fishes from coastal areas

Posted by Pranav Damariya 4 months, 3 weeks ago

CBSE > Class 11 > Business Studies

0 answers

myCBSEguide App

myCBSEguide

Trusted by 1 Crore+ Students

Test Generator

Test Generator

Create papers online. It's FREE.

CUET Mock Tests

CUET Mock Tests

75,000+ questions to practice only on myCBSEguide app

Google Play

Download myCBSEguide App