Letter of Credit

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Information about Letter of Credit

Published on July 22, 2009

Author: sujit8778

Source: authorstream.com

+ : + Cash in Advance Neutral Zone + Insurance Ex-Im Bank CEFO Letters of Credit Standby Commercial (Acceptances) Confirmed Transferable Back-to-Back Assignment of Proceeds Foreign Exchange Documentary Collection Open Account Foreign Receivables Positive Positive - Negative - Negative Importer (Buyer) (Applicant) Exporter (Seller) (Beneficiary) Vendor Financing Methods of Payment Risk Assessment Shipment sujit patel Letter of Credit Terms : Letter of Credit Terms Involved Parties: Letter of Credit Terms Activities & Terms : Letter of Credit Terms Activities & Terms Advice Amendment Confirmed Discrepancy Documentation Draft – Sight Draft Time Draft Irrevocable Issuance Negotiation Revocable sujit patel Types of Letters of Credit : Types of Letters of Credit Back-to-Back Confirmed Straight Negotiation Sight Standby Transferable Usance sujit patel Slide 5: 7. Documents 3. Letter of Credit Applicant Importer/Buyer Exporter’s Bank/ Advising Bank Importer’s Bank/ Issuing Bank Buyer & Seller Agree 6. Documents 8. Documents 2. Application 1. 1. 5. Product is Shipped 2. 9. 10. Export Letter of Credit Cycle 4. Letter of Credit Beneficiary Exporter/Seller sujit patel Documentary Collection Terms : Documentary Collection Terms Buyer Seller Remitting Bank Collecting Bank Bill of Exchange/Draft Time/Usance Bill of Exchange sujit patel Slide 7: 4. Documents & Draft Exporter/Seller Exporter’s Bank/ Remitting Bank Importer’s Bank/ Collecting Bank Buyer & Seller Agree 3. Documents & Draft 6. Documents 1. 1. 2. Product is Shipped 5. 5. 5. Documentary Collection Importer/Buyer

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