Letter of Credit (LC) is a banking instrument used for ---
Created: 6 years ago |
Updated: 2 years ago
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A letter of credit, or "credit letter" is a letter from a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount.
In the event that the buyer is unable to make a payment on the purchase, the bank will be required to cover the full or remaining amount of the purchase.
Md Azizur Rahman
Founder of Satt
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