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Blog posts for Letters of Credit

What is a Letter of Credit?

Posted on October 02, 2013 in Letters of Credit

In the business world, it is important to understand the different terminology used to describe various financial transactions. For example, the terms "line of credit" and "letter of credit" are often used interchangeably, but they represent two...

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Loopholes in Accepting Letters of Credit

Posted on August 08, 2013 in Letters of Credit

When a bank issues a letter of credit to a customer, the bank is actually lending its credit support to the bank customer to enable a business trade or transaction by the customer. The two primary types of letters of credit are commercial and...

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