Letter of credit (LC) is used as a payment method in international trade to minimize risks for both the importer and exporter. An LC is an undertaking by an issuing bank, usually the importer's bank, to make payment to the exporter against submission of documents as specified in the LC. The mechanism involves the issuing bank, advising bank, negotiating bank, and optionally a confirming bank. The confirming bank provides its undertaking in addition to the issuing bank to avoid risks of insolvency of the issuing bank or the importer's country.
Letter of Credit - Complete Presentation - (Bcom-Mcom-BBA-MBA-BS)Millat Afridi
A letter of credit (LC), also known as a documentary credit or bankers commercial credit, is a payment mechanism used in international trade to provide an economic guarantee from a creditworthy bank to an exporter of goods. A letter of credit is extremely common within international trade and goods delivery, where the reliability of contracting parties cannot be readily and easily determined. Its economic effect is to introduce a bank as underwriting the credit risk of the buyer paying the seller for goods.
Letter of Credit - Complete Presentation - (Bcom-Mcom-BBA-MBA-BS)Millat Afridi
A letter of credit (LC), also known as a documentary credit or bankers commercial credit, is a payment mechanism used in international trade to provide an economic guarantee from a creditworthy bank to an exporter of goods. A letter of credit is extremely common within international trade and goods delivery, where the reliability of contracting parties cannot be readily and easily determined. Its economic effect is to introduce a bank as underwriting the credit risk of the buyer paying the seller for goods.
LETTER OF CREDITS or LOCs are common in international trade. The concept of LOCs can be complicated. This ppt makes them easier to understand in the best possible simple language. LEARN, CREATE AND SHARE!!!
This shows short details about Letter of Credit, its types and procedures so that one can get necessary information regarding this spending just few minutes.
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/
LETTER OF CREDITS or LOCs are common in international trade. The concept of LOCs can be complicated. This ppt makes them easier to understand in the best possible simple language. LEARN, CREATE AND SHARE!!!
This shows short details about Letter of Credit, its types and procedures so that one can get necessary information regarding this spending just few minutes.
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/
Danh mục hệ thống tài khoản mới nhất theo quyết định 48, quyết định 48/2006/QĐ-BTC, qd 48, danh muc tai khoan ke toan moi nhat, hệ thống tài khoản theo qđ 48, he thong tai khoan ke toan qd 48, tai khoan ke toan qd 48, Chart of account Small & Medium Enterprises, TT200/2014
The expectancy theory was proposed by Victor Vroom of Yale School of Management in 1964. Vroom stresses and focuses on outcomes, and not on needs unlike Maslow and Herzberg. The theory states that the intensity of a tendency to perform in a particular manner is dependent on the intensity of an expectation that the performance will be followed by a definite outcome and on the appeal of the outcome to the individual.
The Expectancy theory states that employee’s motivation is an outcome of how much an individual wants a reward (Valence), the assessment that the likelihood that the effort will lead to expected performance (Expectancy) and the belief that the performance will lead to reward (Instrumentality). In short, Valence is the significance associated by an individual about the expected outcome. It is an expected and not the actual satisfaction that an employee expects to receive after achieving the goals. Expectancy is the faith that better efforts will result in better performance. Expectancy is influenced by factors such as possession of appropriate skills for performing the job, availability of right resources, availability of crucial information and getting the required support for completing the job.
Instrumentality is the faith that if you perform well, then a valid outcome will be there. Instrumentality is affected by factors such as believe in the people who decide who receives what outcome, the simplicity of the process deciding who gets what outcome, and clarity of relationship between performance and outcomes. Thus, the expectancy theory concentrates on the following three relationships:
• Effort-performance relationship: What is the likelihood that the individual’s effort be recognized in his performance appraisal?
• Performance-reward relationship: It talks about the extent to which the employee believes that getting a good performance appraisal leads to organizational rewards.
• Rewards-personal goals relationship: It is all about the attractiveness or appeal of the potential reward to the individual.
Vroom was of view that employees consciously decide whether to perform or not at the job. This decision solely depended on the employee’s motivation level which in turn depends on three factors of expectancy, valence and instrumentality.
Mike Filchock's powerpoint slides from his presentation at Fayette County's Exporting 101 Seminar. Mike is with SunTrust Bank's Global Trade Solutions Department.
Features of a Negotiable Instrument
Elements of Negotiability
Presumptions as to negotiable instruments
Promissory Note
Bill of Exchange
Cheque
Holder and Holder in due course
Negotiation, Indorsement and Assignment
Dishonour of negotiable instrument
Liability of Banker
A letter of credit, also known as a documentary credit or bankers commercial credit, or letter of undertaking, is a payment mechanism used in international trade to provide an economic guarantee from a creditworthy bank to an exporter of goods. Wikipedia
Letters of credit is a written commitment to pay, by a buyer's or importer's bank (called the issuing bank) to the seller's or exporter's bank (called the accepting bank, negotiating bank, or paying bank). It is also known as a documentary credit.
Standby Letter of Credit Definition, Issuance, Notification and usesOscarWason
Another prominent payment technique used in international trade is the Standby Letter of Credit. What is a Standby Letter of Credit (SBLC)? How is it different from a Documentary Letter of Credit? How do issuance and notification of a Standby Letter of Credit work? … Well This article provides the answers to these questions.
What is a Standby Letter of Credit (SBLC)?
The Standby Letter of Credit (SBLC) is a guarantee issued by the importer’s bank, in favor of the exporter, for an amount agreed at the signing of the commercial contract. It provides a guarantee to the exporter that, if due to any circumstances, the importer is unable to pay, then the bank
will make the payment.
Grand City Investment Limited
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Website: https://grandcityinvestment.com
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5. Methods of Payment in International Trade/Export and Import FinanceCharu Rastogi
This presentation discusses methods of obtaining export and import finance such as Accounts Receivable Financing, Factoring (Cross-Border Factoring), Letters of Credit (L/C) Banker’s Acceptance (BA), Working Capital Financing, Medium-Term Capital Goods, Financing (Forfaiting) and Countertrade. It also discusses methods of payment of international trade; Cash in Advance, Letters of Credit, Documentary Collections and Open Account followed by a comparative study of different methods. Furthermore, types of letter of credit and procedure of working of a letter of credit are also discussed.
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
Trade financing offers more flexible solutions that can accelerate cash flow and reduce exposure to trade risks. Funding is based on the credit rating of an exporter's customer, instead of the exporter's financials. In contrast to bank loans, trade finance services don't show up as debt on an exporter's balance sheet. Exporters can typically expect to receive a payment within two days of submitting an invoice.
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3. EXPORTER
BUT
THEY DO
NOT TRUST
EACH
OTHER !
IMPORTER
Minimize the
RISK of
Quantity &
Quality of Goods
if she makes the
payment before
she receives
goods
Minimize the
RISK of
non-payment by
the importer if
she ships the
goods before
receiving the
payment
To solve this problem
both use LC as a
method of payment
which allay down fear
and risk of both
MECHANISM - LC
4. EXPORTERIMPORTER
MECHANISM - LC
Issuing Bank/Opening Bank
RequestsLC
Definition – Letter of Credit (LC)
LC is an undertaking by the ISSUING BANK to make a PAYMENT to BENEFICIARY
(EXPORTER in this case) against the SUBMISSION OF DOCUMENTS which may be related to
type of shipment, insurance cover etc as per agreed between the exporter and the importer in the LC
Negotiating Bank
Advising Bank
LC
DOCUMENTS
$
$
$
5. EXPORTERIMPORTER
ROLE OF CONFIRMING BANK
Issuing Bank/Opening Bank
RequestsLC
Confirming Bank
Negotiating Bank
Advising Bank
LC$
$
To avoid the INSOLVENCY RISK of the ISSUING
Bank & COUNTRY RISK of the IMPORTERS’
REQUESTS
$
$
UNDERTAKING IN ADDITION
TO ISSUING BANK
