commercial letter of credit Antonyms
No Synonyms and anytonyms found
Meaning of commercial letter of credit
Wordnet
commercial letter of credit (n)
a letter of credit given to a business concern for commercial purposes
commercial letter of credit Sentence Examples
- A commercial letter of credit serves as a guarantee of payment in international trade transactions.
- Exporters often rely on commercial letters of credit to ensure timely and secure payment for goods shipped overseas.
- Banks play a crucial role in facilitating commercial letters of credit by acting as intermediaries between importers and exporters.
- The terms and conditions of a commercial letter of credit specify the obligations of the buyer and the seller in the transaction.
- A confirmed commercial letter of credit provides an additional level of assurance to the seller by involving a second bank in the process.
- The issuance of a commercial letter of credit requires the buyer to deposit funds or provide collateral to the issuing bank.
- Documentary requirements, such as invoices and shipping documents, must comply with the terms outlined in the commercial letter of credit.
- Once the conditions of the commercial letter of credit are met, the issuing bank releases payment to the seller.
- Commercial letters of credit mitigate the risk of non-payment for exporters and reduce the credit risk for importers.
- In complex international trade transactions, parties may opt for standby commercial letters of credit to provide additional financial security.
FAQs About the word commercial letter of credit
a letter of credit given to a business concern for commercial purposes
No synonyms found.
No antonyms found.
A commercial letter of credit serves as a guarantee of payment in international trade transactions.
Exporters often rely on commercial letters of credit to ensure timely and secure payment for goods shipped overseas.
Banks play a crucial role in facilitating commercial letters of credit by acting as intermediaries between importers and exporters.
The terms and conditions of a commercial letter of credit specify the obligations of the buyer and the seller in the transaction.
