What is an irrevocable letter of credit?, Basic Statistics

What is an irrevocable letter of credit?

A permanent mail of credit score is a financial instrument used by banks to guarantee a customer's obligations to a supplier. It is permanent because the mail of credit score cannot be modified unless all parties agree to the modifications.

Irrevocable letters of credit score are often used to facilitate international trade because of the additional risks involved. The permanent mail of credit score removes the seller's credit score risk by assuring the supplier that payment will be made by the customer's financial institution if the buyer does not pay the supplier.

In a permanent mail of credit score, the buyer is known as the applicant, the supplier is the beneficiary, the customer's financial institution is the issuing financial institution, and the seller's financial institution is the advising financial institution.

Expertsmind.com offers unique accounting assignment help

 

 

Posted Date: 3/31/2012 3:43:22 AM | Location : United States







Related Discussions:- What is an irrevocable letter of credit?, Assignment Help, Ask Question on What is an irrevocable letter of credit?, Get Answer, Expert's Help, What is an irrevocable letter of credit? Discussions

Write discussion on What is an irrevocable letter of credit?
Your posts are moderated
Related Questions
Lifts usually have signs indicating their maximum capacity. Consider a sign in a lift that reads “maximum capacity 1400kg or 20 persons”. Suppose that the weights of lift-users are

How to solve problems of index number fixed based method

Capital grants Grants that are restricted for the acquisition: structure: renewal of capital assets associated with an accurate program, Refer to GRANTS & OPERATING GRANTS

Depreciation Application procedure. Under this technique devaluation is incurred immediately to the Resources Consideration for example if 10% of devaluation is being incurred o

what are the importances of time series

You have the following limited information upon which to base your decision as to which is the better of two alternative funding arrangements:  Alternative 1 is to arrange fu

A pharmaceutical company is a monopoly in Alzheimer's disease drugs and faces the following inverse demand curve: , where α is the level of advertising. Its marginal production

One measure of the risk or volatility of an individual stock is the standard deviation of the total return (capital appreciation plus dividends) over several periods of time. Altho

Two functions of Accounting. Accounting Purchase only:  In the guides of Records only a transaction which is relevant to some cash value can be registered.  Posting: The Expl

Meaning and solving example using north-west corner in Transportation problem