Letter of Credit: parties, types, critical dates

Vera Murphy
Vera Murphy
Managing Director, Bevan Murphy Customs Ltd, Ireland
Published 07 Mar 2023

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Letters of credit are a core trade-finance tool that customs and trade-compliance professionals encounter whenever payment for cross-border shipments is guaranteed by banks. This short tutorial sets out the parties involved, the main types of letter of credit, and the critical dates that determine whether an LC still has value...

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