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Letter of credit

Payment guarantee issued by the buyer’s bank in favor of the seller (accredited = beneficiary), provided that the latter fulfills its obligations under the purchase contract.

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Letter of credit

Payment guarantee of the buyer’s bank in favor of the seller (Accredited = Beneficiary), provided that the latter has fulfilled its obligations under the Purchase contract fulfilled A letter of credit is a payment instrument in international trade used to secure payments between buyers and sellers. It is a binding…

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