Letter of Credit
What do you mean by Letter of Credit?
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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.
Accounts Receivable: The money owed by customers (that is, individuals or corporations) to other entity in exchange for services or goods that have been employed or delivered, however not yet paid for. Receivables generally come in the form of operati
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