relating to LC
This query is : Resolved
21 July 2008
WHAT IS THE FULL FORM OF LC & MEANING OF IT AND WHEN IT IS APPLICABLE ?
WHAT IS THE FULL FORM OF LC & MEANING OF IT AND WHEN IT IS APPLICABLE ?
21 July 2008
A letter of credit is a document issued by bank or other financial institution which usually provides an irrevocable undertaking as to payment. This is generally given by the buyer(importer) to the suppliers of goods so as to ensure him that payment is secured.
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