--%>
Assignment Help - homework help

Letter of Credit

What do you mean by Letter of Credit?

E

Expert

Verified

Letter of Credit (abbreviated as LC) is a set of documents that are very necessary for goods being transported from one country to the other.  This set comprises that of invoices, shipping documents, guarantees and others.

It is a letter of credit points out that for the customer’s ability (that is, credit limit) and in other words LC is a commitment from bank to the receiver for the payment.

   Related Questions in Financial Accounting

  • Q : Explain accounting equation in brief..

    what is accounting equation? explain accounting equation and explain its importance?

    		•
  • Q : Describe Short Holding Period Describe

    Describe Short Holding Period briefly with suitable example?

    		•
  • Q : Define Liabilities Liabilities mean the

    Liabilities mean the amount which the firm owes to the outsiders. Liabilities are of two types: -Long term liabilities & Short term liabilities. Examples of long term liabilities are long terms loans, bonds etc. & examples of short term liabil

    		•
  • Q : REDUMPTION OF DEBENTURS WHAT IS

    WHAT IS REDUMPTION? AND WHAT ARE THE CONDITIONS?

    		•
  • Q : Stages in the life cycle of a family

    There are seven typical stages in the life cycle of a family with children. Fully explain and give an example to describe each of those seven stages.

    		•
  • Q : Effects of foreigners portfolio

    Since early 1980s, foreign portfolio investors has purchased a considerable portion of the U.S. treasury bond issues.  Explain some short-term and long-term effects of the foreigners’ portfolio investment over the U.S. balance of payments.

    		•
  • Q : Balance sheet A listing of the

        A listing of the liabilities, assets, and equity of an entity at a point in time, the end of a month, or quarter, or year. It is one of the four financial statements required in a full financial report. The balance sheet gives the reader what the entity owns (assets)

    		•
  • Q : Forecast future and forward exchange

    It is extremely difficult in order to forecast future exchange rates more precisely as compared to forward exchange rate or to the current spot exchange rate, as per the researchers. How these findings can be interpreted?

    		•
  • Q : Case study of an Operational-Strategy

    Develop a case study of the Operational-Strategy interface as it applies to organisational change (last 3-5 years) within your organisation, together with a project implementation case study .You are required to detail the operational chan

    		•
  • Q : Define purchase budget Give a short

    Give a short introduction of the term ‘purchase budget’?

    		•