can anyone please help me with the meaning with devolvement of LC and invocation of BG
1 Replies
V P Narasimhan
(Accounts Manager)
(791 Points)
Replied 04 February 2011
L/C - Letter of Credit - Another Credit facility extended by Bank to operate the Business which has its own time validity & value constraints.While documents negotiated thro" L/C you will get credit while submitting the bills to the buyer before the due date.
Invoking the BG is encashing the BG by the beneficiary even before its expiry date
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