Joomla! site syndication http://www.freeletters.info Thu, 28 Aug 2008 23:53:43 +0100 FeedCreator 1.7.2 http://www.freeletters.info/images/M_images/joomla_rss.png http://www.freeletters.info Joomla! site syndication http://www.freeletters.info/content/view/613/2/ A letter of credit, also referred to as an LOC or LC, is a document issued by a financial institution which essentially acts as an irrevocable guarantee of payment to a beneficiary. This means that if the applicant obtaining the LC fails to perform its obligations, the bank pays. The LC can also be the source of payment for a transaction, meaning that an exporter will get paid by redeeming the letter of credit. Letters of credit are used nowadays almost exclusively in international trade transactions of significant value, for deals between a supplier in one country and a wholesale customer in another. The parties to a letter of credit are usually an applicant who wants to send money, a beneficiary who is to receive the money, the issuing bank of whom the applicant is a client, and the advising bank of whom the beneficiary is a client. In executing a transaction, letters of credit incorporate functions common to giros and travellers cheques. Business Letters A-N - L Tue, 15 Nov 2005 21:17:15 +0100 http://www.freeletters.info/content/view/13/2/ ACCEPTANCE OF ORDER WITH DELIVERY IN LOTS Business Letters A-N - A Mon, 11 Jul 2005 18:05:43 +0100 http://www.freeletters.info/content/view/12/2/ DearYour counter proposal on the above referenced projecthas been reviewed and is acceptable in its entirety. Business Letters A-N - A Mon, 11 Jul 2005 17:45:07 +0100