What is a Letter of Credit?
Parties Involved in LC Transaction
Letter of Credit Process
Types of Letter of Credit
Documents of Letter of Credit
Advantages of Letter of Credit
Disadvantages of Letter of Credit
What is a Letter of Credit?
Parties Involved in LC Transaction
Letter of Credit Process
Types of Letter of Credit
Documents of Letter of Credit
Advantages of Letter of Credit
Disadvantages of Letter of Credit
Factoring, receivables factoring or debtor financing, is when a company buys a debt or invoice from another company. Factoring is also seen as a form of invoice discounting in many markets and is very similar but just within a different context.
A bond issued in a country or currency other than that of the investor or broker. They include Eurobonds, which are issued in a foreign currency, foreign bonds, which are issued by a foreign government or corporation in the domestic market, and global bonds, which are issued in both domestic and international markets.
,
letter of credit
,
parties involved in lc transaction
,
letter of credit process
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commercial letter of credit flow
,
advantages of letter of credit
,
risks involved
Documentary Credit means any arrangement that is irrevocable and thereby constitutes a definite undertaking of the issuing bank to honour a complying presentation
http://accountsknowledgehub.blogspot.com/
Factoring, receivables factoring or debtor financing, is when a company buys a debt or invoice from another company. Factoring is also seen as a form of invoice discounting in many markets and is very similar but just within a different context.
A bond issued in a country or currency other than that of the investor or broker. They include Eurobonds, which are issued in a foreign currency, foreign bonds, which are issued by a foreign government or corporation in the domestic market, and global bonds, which are issued in both domestic and international markets.
,
letter of credit
,
parties involved in lc transaction
,
letter of credit process
,
commercial letter of credit flow
,
advantages of letter of credit
,
risks involved
Documentary Credit means any arrangement that is irrevocable and thereby constitutes a definite undertaking of the issuing bank to honour a complying presentation
http://accountsknowledgehub.blogspot.com/
There can be three routes to have a foriegn collaboration - Contractual route; Joint Ventures and Merger and Acqusition transactions. This presentation attempts to guide the Indo-Foriegn Collaborator to understand the basics of 3 routes.
Animated flow diagrams illustrating how transferable commercial letters of credit work. Part of a series on structures for mitigating risk in international trade and financing export sales. Extracted from training classes developed and conducted by Global Trade Risk Management Strategies LLC.
Overview of legal and financial risk-management considerations in financing international business transactions. In other words, "How to Get Paid, or Get what you Pay For in International Business".
The term import is derived from the conceptual meaning as to bring in the goods and services into the port of a country. The buyer of such goods and services is referred to an "importer" who is based in the country of import where the overseas based seller is referred to as an "exporter". Thus an import is any good(e.g. a commodity) or service brought in from one country to another country in a legitimate fashion, typically for use in trade. It is a good that is brought in from another country for sale. Imported goods or services are provided to domestic consumers by foreign producers. An import in the receiving country is an export to the sending country.
Do You Need Help Getting Out of a Timeshare?
Timeshare contracts don't have to burden you forever. During our free event, real estate lawyers will show you how timeshare owners have gotten out of their sales contracts.
Timeshare Cancellation, Termination & Modification
Learn how it's possible to cancel, terminate or modify your sales contract. Regardless of what resort developers tell you, they do let timeshare owners out of their contracts. Developers frequently breach their own contracts and engage in fraudulent activities. Learn how a developer's actions can give you a way out.
Deception
Has the resort told you that you can't make a reservation? Have they told you that you can't rent your week? Are you paying hidden costs or higher fees? Timeshare owners face many surprises after the sales presentation. We'll explain your options.
Sales
The timeshare resale industry is rife with unscrupulous businesses. Resale scams require sellers to pay expensive upfront junk fees. Learn how not to become a victim of these fraudsters.
Dealing with Runaway Maintenance Fees
On average, timeshare maintenance fees increase 8% per year. You might even get stuck paying other costs and assessments as time goes on. The sales team probably didn't tell you about these hidden expenses and fee increases. We'll explain how you can seek relief from this costly headache.
Estate Plan
If you've decided to keep your timeshare, then the next step is creating an estate plan. Timeshare contracts are "in perpetuity," and your heirs will have to continue paying maintenances fees and other costs. Learn how to dispose of your timeshare to prevent your heirs from inheriting the extra expenses.
Bankruptcy Claims Trading (Series: Bankruptcy Transactions: Advice for the Ad...Financial Poise
Claims Trading in bankruptcy cases has advanced and grown in sophistication swiftly in recent history. Companies and their advisors should be prepared before wading into these waters. How will a claim be treated once transferred? What steps should a company acquiring a claim take to ensure the claim is paid? How should a claim be valued? What kind of documentation will be needed to properly transfer the claim? If a dispute arises regarding the claim, how should the acquiring company defend itself? This webinar focuses on understanding these issues and addressing best practices for advanced reorganization practitioners and advisors working on the cutting edge of bankruptcy transactions.
To listen to this webinar on-demand, go to: https://www.financialpoise.com/financial-poise-webinars/bankruptcy-claims-trading-2020/
To listen to this webinar on-demand, go to: https://www.financialpoise.com/financial-poise-webinars/bankruptcy-claims-trading-2020/
PPSA - Personal Property Securities Register
What solicitors should know about it?
TITLE IS NO LONGER KING!
• Revolution: the new Personal Property Securities Register
• Personal Property Securities Register: tips for using the new register
• Specific compliance issues of interest for SMEs
Panel Discussion on Credit Enhancement at the 2019 ASEAN PPP Summit: The Public-Private Partnership Model and its Merits in Attracting Foreign Direct Investments, the leading regional forum on infrastructure investment in Southeast Asia.
Comprehensive Reporting
The Comprehensive Securitization Audit Report was created in order to serve the various purposes of securitization audit – from seeking the most favorable terms in a loan modification to supporting legal action to delay or defend against foreclosure or to seek relief from unfair or unlawful practices by lenders, servicers, and related institutions.
This report is different because it includes a section that discusses the contemplated profit that was to be made by the participants from securitizing a loan. The figures used in the computations are gathered from actual documents. It also states how soon the lender recovered the full amount it originally lent to the borrower instead of the 30 years it usually takes for the loan to be fully paid from the agreed monthly amortizations.
The Comprehensive Audit Report was conceptualized to be what a real audit should be – independent and unbiased, with the auditor or examiner free of any interest in its outcome. It neither attempts to sensationalize its findings nor ignore the present economic ramifications of the crash of the housing market that securitization helped to unfold.
A demand guarantee is usually a concise and simple instrument issued by a bank, or another financial institution, under which the obligation to pay a Beneficiary a fixed or maximum sum of money arises merely upon the making of a demand for payment in the prescribed form and sometimes also the presentation of documents as stipulated in the guarantee within its period of validity. Many demand guarantees are payable on first demand without any additional documents, which reflects their origin in replacing cash deposits, although increasingly guarantees require at least a person planning to enter into a contract for the purchase of goods or the construction of works by the intended counterparty to the contract may wish to have security for the counterparty’s performance of his obligations, especially when no previous dealings have taken place between them. A question that troubles bankers and lawyers is how strictly the documents must conform to the terms of the demand guarantee and LoC. Is the standard a “strict one”, so that even the minor deviations entitle the bank to refuse payment and, indeed, oblige it to do so unless otherwise authorised by the Applicant or Principal of the credit or guarantee? Or is it a standard of “substantial compliance” in terms of which deviations that the bank has no reason to believe are of commercial significance are ignored? Or does the law adopt another standard, i.e. strict compliance in suits by the Beneficiary against the issuing bank or Guarantor, but only substantial compliance in suits by the Applicant or Principal against the Guarantor, in terms of which the bank is free to invoke a strict standard of commonly known as standby LoC.
Claims Trading in bankruptcy cases has advanced and grown in sophistication swiftly in recent history. Companies and their advisors should be prepared before wading into these waters. How will a claim be treated once transferred? What steps should a company acquiring a claim take to ensure the claim is paid? How should a claim be valued? What kind of documentation will be needed to properly transfer the claim? If a dispute arises regarding the claim, how should the acquiring company defend itself? For 2022, do the financial programs initiated under the CARES Act impact claims trading, and if so, how? This webinar focuses on understanding these issues and addressing best practices for advanced reorganization practitioners and advisors working on the cutting edge of bankruptcy transactions.
Part of the webinar series: BANKRUPTCY TRANSACTIONS - 301: ADVICE FOR THE ADVANCED PRACTITIONER 2022
See more at https://www.financialpoise.com/webinars/
Nvc Fund Holding Trust Transaction Platform 2152019FrankEkejija1
NVC Fund Holding Trust, as an international Capital Logistics Management company, owns and manages more than Five Trillion Dollars ($5T USD) of net tangible assets. We provide our clients with direct access to capital to actualize and/or enhance investment opportunities.
At a roundtable in London, Global Finance brought together key figures
in the subcustody industry to discuss how they are responding to the
many challenges posed by the eurozone crisis, the failure of MF Global,
regulation and the need to expand into new markets and products.
Sub custodian Risk Monitoring: analysing shifts in the industy practise The Benche
The global financial crisis has prompted network management groups to review procedures for monitoring risk across their sub-custody networks and for ensuring that assets held with sub-custodians and infrastructure entities are well protected.
Target2-Securities Project Design: A Progress ReviewThe Benche
Bob Currie reports on advances in the project design and challenges in meeting the ECB’s proposed timeline, through which T2S will be ready to be used by the first group of CSDs by September 2014.
An introduction to the cryptocurrency investment platform Binance Savings.Any kyc Account
Learn how to use Binance Savings to expand your bitcoin holdings. Discover how to maximize your earnings on one of the most reliable cryptocurrency exchange platforms, as well as how to earn interest on your cryptocurrency holdings and the various savings choices available.
In the Adani-Hindenburg case, what is SEBI investigating.pptxAdani case
Adani SEBI investigation revealed that the latter had sought information from five foreign jurisdictions concerning the holdings of the firm’s foreign portfolio investors (FPIs) in relation to the alleged violations of the MPS Regulations. Nevertheless, the economic interest of the twelve FPIs based in tax haven jurisdictions still needs to be determined. The Adani Group firms classed these FPIs as public shareholders. According to Hindenburg, FPIs were used to get around regulatory standards.
At Techbox Square, in Singapore, we're not just creative web designers and developers, we're the driving force behind your brand identity. Contact us today.
At Techbox Square, in Singapore, we're not just creative web designers and developers, we're the driving force behind your brand identity. Contact us today.
Understanding User Needs and Satisfying ThemAggregage
https://www.productmanagementtoday.com/frs/26903918/understanding-user-needs-and-satisfying-them
We know we want to create products which our customers find to be valuable. Whether we label it as customer-centric or product-led depends on how long we've been doing product management. There are three challenges we face when doing this. The obvious challenge is figuring out what our users need; the non-obvious challenges are in creating a shared understanding of those needs and in sensing if what we're doing is meeting those needs.
In this webinar, we won't focus on the research methods for discovering user-needs. We will focus on synthesis of the needs we discover, communication and alignment tools, and how we operationalize addressing those needs.
Industry expert Scott Sehlhorst will:
• Introduce a taxonomy for user goals with real world examples
• Present the Onion Diagram, a tool for contextualizing task-level goals
• Illustrate how customer journey maps capture activity-level and task-level goals
• Demonstrate the best approach to selection and prioritization of user-goals to address
• Highlight the crucial benchmarks, observable changes, in ensuring fulfillment of customer needs
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraAvirahi City Dholera
The Tata Group, a titan of Indian industry, is making waves with its advanced talks with Taiwanese chipmakers Powerchip Semiconductor Manufacturing Corporation (PSMC) and UMC Group. The goal? Establishing a cutting-edge semiconductor fabrication unit (fab) in Dholera, Gujarat. This isn’t just any project; it’s a potential game changer for India’s chipmaking aspirations and a boon for investors seeking promising residential projects in dholera sir.
Visit : https://www.avirahi.com/blog/tata-group-dials-taiwan-for-its-chipmaking-ambition-in-gujarats-dholera/
FIA officials brutally tortured innocent and snatched 200 Bitcoins of worth 4...jamalseoexpert1978
Farman Ayaz Khattak and Ehtesham Matloob are government officials in CTW Counter terrorism wing Islamabad, in Federal Investigation Agency FIA Headquarters. CTW and FIA kidnapped crypto currency owner from Islamabad and snatched 200 Bitcoins those worth of 4 billion rupees in Pakistan currency. There is not Cryptocurrency Regulations in Pakistan & CTW is official dacoit and stealing digital assets from the innocent crypto holders and making fake cases of terrorism to keep them silent.
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
1. BANK GUARANTEES
&
STAND BY LETTERS OF CREDIT
www.thebenche.com
2. WHEN A GUARANTEE OR A STAND BY LETTER OF
CREDIT IS AN ALTERNATIVE
Instead of cash collateral
When there is a need for an
additional security
When the financial strength
of the counter party is
uncertain
www.thebenche.com
3. HOW GUARANTEES &
STANDBYS CORRELATE TO THE
COMMERCIAL EVENTS
Commercial event
Invitation for tender
Tender Contract Partial delivery Installation Take over Warranty period
Advance
Payment
Time
Type of
Guarantee
Performance guarantee
Bid guarantee Advance payment guarantee Retention guarantee Warranty guarantee
Validity period
& amount
www.thebenche.com
4. ADDITIONAL TYPES OF
GUARANTEES AND STANDBYS
Payment guarantee
Transfer guarantee
Loan/Credit guarantee
Customs guarantee
Duty exempt guarantee
Judicial guarantee
Guarantees in favor of governmental
entities
Rental guarantees
www.thebenche.com
5. THE PARTIES INVOLVED IN A
GUARANTEE OR STANDBY
The underlying contract
Principal Beneficiary
Letter of indemnity
Direct Guarantee Local Guarantee
or
Counter Guarantee
BANK– Guarantor/ Guarantor
Instructing Party
www.thebenche.com
6. THE TWO MAIN PRINCIPLES
Suretyship guarantee - ”as for a
debt of our own”
or
Demand guarantee - ”we hereby
irrevocably undertake to pay
you any sums or sums not
exceeding ......upon receipt by
the BANK of your first demand
in writing and your written
statement stating .....”
www.thebenche.com
7. SURETYSHIP GUARANTEES
The underlying transaction or contract must be presented
to your bank before issuance of the guarantee
Suretyship guarantees are dependent on the underlying
legal obligation or the contract
The Guarantor is entitled to make the same objections
against a claim as the Principal
Consequently the Guarantor can wait for a legally binding
arbitration award or judgement or written agreement between the
Principal and the Beneficiary
www.thebenche.com
8. DEMAND GUARANTEES
By their nature a separate transactions from the underlying
contract
The Guarantor’s duty is to pay on Beneficiary’s first written
demand and statement
The Guarantor must pay without any objections if the
Beneficiary claims in accordance with the terms & conditions of
the guarantee.
A Demand Guarantee could be enhanced with documentary
support, e.g. a court decision, an arbitration award etc. (see
article 2a URDG 458).
www.thebenche.com
9. STANDBYS
The Standby is essentially the same as a Demand
Guarantee
Its appearance is different from a typical Demand
Guarantee issued by banks outside of the US
The essence of a Standby is that the issuer (the Bank)
promises to pay the Beneficiary upon presentation of
documents as stipulated in the Standby
ICC, however, applies a set of different rules for Standbys
(ISP98).
www.thebenche.com
10. CLEAN STANDBYS IN FAVOR OF
THE INSURANCE COMMUNITIES
Silent to the underlying
reference/contract
Evergreen clause
Only one single draft
More than one beneficiary
Often governed by UCP
www.thebenche.com
11. MULTI PARTY GUARANTEES
AND STANDBYS
Issued for the account of two or more Principals/
Applicants
Issued by two or more Issuers
Issued in favor of two or more Beneficiaries
www.thebenche.com
12. TO TAKE INTO CONSIDERATION
BEFORE ISSUING A STANDBY
Commercial Letter of Credit vs. Standby Letter of
Credit
Expiry date
Confirmation vs. Counter-Guarantee
Law & Jurisdiction
Rules UCP600 vs. ISP98
www.thebenche.com
13. RULES OF PRACTICE FOR
GUARANTEES AND STANDBYS
International Standby Practices - ISP98
Uniform Rules for Demand Guarantees - URDG 458
Uniform Customs and Practice for Documentary
Credits - UCP500 (600)
www.thebenche.com
14. PAYMENT UPON PRESENTATION OF
THIRD PARTY DOCUMENTS
Demand +
Demand + Demand +
Judgement or
Independent Beneficiary’s
Arbitration Award
Assessment Statement
• • • • •
Max Mini
Security Security
Demand +
Suretyship Guarantee Architect/Engineer
Certificate
www.thebenche.com
15. TO TAKE IN TO CONSIDERATION
BEFORE SIGNING THE CONTRACT
Type of guarantee Max amount
Reference to the Reduction clause
underlying contract
Foreign bank’s charges
Rules - URDG458, ISP98
or UCP600 Templates and language
Documents to be Law and Jurisdiction
presented
Time of validity/expiry
date
www.thebenche.com
