{"id":2937,"date":"2022-07-19T10:30:52","date_gmt":"2022-07-19T10:30:52","guid":{"rendered":"http:\/\/msmefinserv.com\/?page_id=2937"},"modified":"2022-11-11T10:58:10","modified_gmt":"2022-11-11T10:58:10","slug":"letter-of-credit-l-c","status":"publish","type":"page","link":"https:\/\/msmefinserv.com\/index.php\/letter-of-credit-l-c\/","title":{"rendered":"Letter of Credit L\/C"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"2937\" class=\"elementor elementor-2937\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-f4521cf elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f4521cf\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-e72ffc8 ot-flex-column-vertical\" data-id=\"e72ffc8\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-dca5d64 elementor-widget elementor-widget-text-editor\" data-id=\"dca5d64\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Letter of Credit, also known as Documentary Credit, is a written commitment by an importers bank, known as the issuing banks, on behalf of its customer (the importer) promising to pay the beneficiary (exporter) up to a specified amount of money within a time limit and against stipulated documentation. The International Chamber of Commerce publishes it under the Uniform Custom and Practices brochure number 500.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-057bf42 ot-flex-column-vertical\" data-id=\"057bf42\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1ad8147 elementor-widget elementor-widget-image\" data-id=\"1ad8147\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/msmefinserv.com\/wp-content\/uploads\/2022\/07\/Downloader.la-62d68a8a661c5.jpg\" class=\"attachment-large size-large wp-image-2944\" alt=\"MSME Finserv\" srcset=\"https:\/\/msmefinserv.com\/wp-content\/uploads\/2022\/07\/Downloader.la-62d68a8a661c5.jpg 1024w, https:\/\/msmefinserv.com\/wp-content\/uploads\/2022\/07\/Downloader.la-62d68a8a661c5-300x200.jpg 300w, https:\/\/msmefinserv.com\/wp-content\/uploads\/2022\/07\/Downloader.la-62d68a8a661c5-768x512.jpg 768w, https:\/\/msmefinserv.com\/wp-content\/uploads\/2022\/07\/Downloader.la-62d68a8a661c5-600x400.jpg 600w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-154b989 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"154b989\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-e850bd3 ot-flex-column-vertical\" data-id=\"e850bd3\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7a1b164 elementor-widget elementor-widget-iheading\" data-id=\"7a1b164\" data-element_type=\"widget\" data-widget_type=\"iheading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"ot-heading\">\r\n\t        <span class=\"is_highlight\">types<\/span>\t        <h1 class=\"main-head\">There Are Many Types of L\/Cs:<\/h1>\t    <\/div>\r\n\t    \t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-55cd63b elementor-widget elementor-widget-text-editor\" data-id=\"55cd63b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>Revocable and irrevocable letter of credit (L\/c).<\/strong><\/p><p>Without the consent of the exporter, a Revocable Letter can be cancelled. A Revocable Letter of Credit can\u2019t be cancelled or modified without consent from all parties, including the exporter.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-080a1aa elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"080a1aa\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-c3888be ot-flex-column-vertical\" data-id=\"c3888be\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f29ffec elementor-view-default elementor-widget elementor-widget-icon\" data-id=\"f29ffec\" data-element_type=\"widget\" data-widget_type=\"icon.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon-wrapper\">\n\t\t\t<div class=\"elementor-icon\">\n\t\t\t<i aria-hidden=\"true\" class=\"fas fa-arrow-alt-circle-right\"><\/i>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-60bbe55 ot-flex-column-vertical\" data-id=\"60bbe55\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5292170 elementor-widget elementor-widget-heading\" data-id=\"5292170\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Sight &amp; Time Letter for Credit<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b2c6dac elementor-widget elementor-widget-text-editor\" data-id=\"b2c6dac\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The Sight Letter of Credit is used to refer to payment that is made at the time of the presentation of the document. Banks are permitted to spend the time necessary to verify the documents in this instance.<\/p><p>The Term Letter of Credit is used to refer to payments that are due after a specific time period, as specified in the draft.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-2c73125 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2c73125\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-9e4c4e0 ot-flex-column-vertical\" data-id=\"9e4c4e0\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1f084f5 elementor-view-default elementor-widget elementor-widget-icon\" data-id=\"1f084f5\" data-element_type=\"widget\" data-widget_type=\"icon.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon-wrapper\">\n\t\t\t<div class=\"elementor-icon\">\n\t\t\t<i aria-hidden=\"true\" class=\"fas fa-arrow-alt-circle-right\"><\/i>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-dff1d0b ot-flex-column-vertical\" data-id=\"dff1d0b\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-bcc4f9e elementor-widget elementor-widget-heading\" data-id=\"bcc4f9e\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Confirmed Letter Of Credit (L\/c).<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f7d2fc7 elementor-widget elementor-widget-text-editor\" data-id=\"f7d2fc7\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The Sight Letter of Credit is used to refer to payment that is made at the time of the presentation of the document. Banks are permitted to spend the time necessary to verify the documents in this instance.<\/p><p>The Term Letter of Credit is used to refer to payments that are due after a specific time period, as specified in the draft.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Letter of Credit, also known as Documentary Credit, is a written commitment by an importers bank, known as the issuing banks, on behalf of its customer (the importer) promising to pay the beneficiary (exporter) up to a specified amount of money within a time limit and against stipulated documentation. The International Chamber of Commerce publishes [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"om_disable_all_campaigns":false,"footnotes":""},"class_list":["post-2937","page","type-page","status-publish","hentry"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/msmefinserv.com\/index.php\/wp-json\/wp\/v2\/pages\/2937","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/msmefinserv.com\/index.php\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/msmefinserv.com\/index.php\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/msmefinserv.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/msmefinserv.com\/index.php\/wp-json\/wp\/v2\/comments?post=2937"}],"version-history":[{"count":29,"href":"https:\/\/msmefinserv.com\/index.php\/wp-json\/wp\/v2\/pages\/2937\/revisions"}],"predecessor-version":[{"id":4208,"href":"https:\/\/msmefinserv.com\/index.php\/wp-json\/wp\/v2\/pages\/2937\/revisions\/4208"}],"wp:attachment":[{"href":"https:\/\/msmefinserv.com\/index.php\/wp-json\/wp\/v2\/media?parent=2937"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}