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Letters of credit can be divided into two major types.
They are:
Standby Letters of Credit - Which act as a
guarantee from a third party bank in the event of
non-payment on the part of the creditor.
and...
Documentary Letters of Credit - Which are typically
used by importers and exporters to transact
business between companies in foreign countries.
They are:
Standby Letters of Credit - Which act as a
guarantee from a third party bank in the event of
non-payment on the part of the creditor.
and...
Documentary Letters of Credit - Which are typically
used by importers and exporters to transact
business between companies in foreign countries.
Experience Counts
We do our best to take the
mystery out of managing
credit and accounts
receivables.
mystery out of managing
credit and accounts
receivables.
For additional resource information, you may also
wish to review our glossaries which are:
Letter of Credit Glossary
and
International Trade Glossary
wish to review our glossaries which are:
Letter of Credit Glossary
and
International Trade Glossary
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Letters of Credit
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