Free notes, textbooks, and exam-focused resources designed for Indian banking professionals.
The Reserve Bank of India (RBI) has issued comprehensive guidelines to ensure that banks exercise due diligence and maintain transparency and discipline in the issuance of Letters of Credit (LCs).…
In a Letter of Credit (LC) transaction, documentary scrutiny is a vital process undertaken by banks to ensure that the documents presented by the beneficiary (exporter) strictly comply with the…
In a Letter of Credit (LC) transaction, multiple parties are involved—each with distinct liabilities, responsibilities, and rights. These parties include the issuing bank, applicant (buyer), beneficiary (seller), and, where applicable,…
A Documentary Letter of Credit (DLC), often simply referred to as a Letter of Credit (LC), is a widely used instrument in international trade transactions. It represents a formal commitment…
(Generally, there are eight parties involved in letter of credit transactions, out of which four principal parties involved in any transaction. This article briefs about four principal parties and other…
The process of converting foreign currency liability of the importer into Indian Rupee liability is called the crystallization of import LC bills. The idea behind the crystallization of import bills…
We all know that in the international trade of goods and services transactions takes place between the people belonging to different continents, languages, culture, and laws. Since the language used…
(This post explains about LC on Sight Payment and LC on Usance terms, LC (Inland) and LC (Foreign), Freely negotiable and Restricted Letters of Credit, Uniform Customs and Practice (UCP)…
Letter of credit (LC) also known as Documentary credit is an undertaking from a bank on behalf of its customer (importer/buyer) wherein the beneficiary (exporter) is fully assured of payment…
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