What is a Letter Of Credit and for what purpose it is Used?.
4 Replies
(Guest)
A letter of credit 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 payment on the purchase, the bank will be required to cover the full or remaining amount of the purchase.
CS M Pota
(Company Secreatary)
(3186 Points)
Replied 03 January 2018
Dear All
You may refer my Article on Documentary/Letter of Credit on CA Club of India.
CS M Pota
(Company Secreatary)
(3186 Points)
Replied 03 January 2018
Dear All
You may refer my Article on Documentary/Letter of Credit on CA Club of India.
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