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accounts query

This query is : Resolved 
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(Querist)
26 August 2008 wht is difference between devolvement of LC and expiry of LC ?
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CA. Dashrath Maheshwari

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CA. Dashrath Maheshwari (Expert)
26 August 2008 Expiry date:
The date when a letter of credit ends - i.e. beyond which it cannot be used.

Devolvement:
LC is not paid on due date.

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