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Fulfillment of letter of credit
? Performance under a Documentary Credit Introduction A documentary credit (DC) is an instrument which allows a buyer (the applicant) to issue an instruction to a bank (the issuing bank) to make payment to an exporter (the beneficiary) for goods and/or services, on the condition that the exporte......
tags: bank credit beneficiary letter importer credit
06/07/2023
1043
Sophie
non-recourse letter of credit
A Standby Letter of Credit and a Without Recourse Letter of Credit A Letter of Credit (or L/C) is a financial instrument to assure that payment for goods and services will be received in full and on time. A typical Letter of Credit (L/C) provides that the issuing bank will make payment to a benef......
tags: credit letter bank payment without recourse
06/07/2023
1048
Sophie
inheritance tax
Estate Tax Estate tax, also known as inheritance tax or death duties, refers to a tax imposed on the transfer of the net value of an estate upon the death of an individual. Generally imposed on both transfer of real estate and personal property, estate tax is typically levied on the recipient of ......
tags: estate tax imposed tax inheritance wealth
06/07/2023
1072
Madison
banker's acceptance
Bank Acceptance Draft A Bank Acceptance Draft (BAD) is a type of instrument used for short-term financing. It is created when a bank agrees to accept an offered amount of money from a customer. This type of financial instrument is typically used to facilitate the payment of goods and services fro......
tags: bank amount money bank their value
05/07/2023
1040
Alice
Life Insurance
? Personal insurance, or life insurance, is the most important form of insurance protection. It provides those you leave behind with funds to cover the costs associated with your untimely death. Personal insurance is of paramount importance, as it provides a means of financial security in the ti......
tags: insurance life your policy term assurance
05/07/2023
1062
Hannah
Limited endorsement
A Restricted Endorsement is a type of transaction in which a person, who is currently holding a negotiable instrument, such as a check, drafts the instrument so that it can only be paid to a specific third party. Restricted endorsements, also sometimes referred to as “special endorsements,” are t......
tags: check endorsement restricted endorsement limited rights
05/07/2023
1047
Jessica
letter of credit with recourse
A standby letter of credit is a promise from a bank to pay a particular amount of money in the event that the buyer or receiver of the goods is unable to fulfill their financial commitments. It is often used as security for a loan or credit agreement, and is sometimes referred to as a “standby LC......
tags: credit standby buyer credit letter lender
05/07/2023
1047
Mariana
advance letter of credit
Letter of Credit A Letter of Credit (LC) is a specialized form of banking transaction which can be described as a form of guarantee to ensure one party meets its obligation to another party. It is a widely accepted and utilized form of payment in international business. The LC provides security f......
tags: letter credit payment customer credit standby
05/07/2023
1047
Sophia
gift tax
Gift taxation is a form of taxation imposed on gifting. This form of taxation essentially applies when you give money, goods, or services to someone with no expectation of getting anything in return. The majority of countries around the world impose some form of gift taxation, and the specifics of......
tags: taxation tax gift tax inheritance property
05/07/2023
1118
Lily
total inheritance tax
Estate Tax Estate tax, also known as inheritance tax, is a tax imposed based on the estate of an individual upon his or her death, and is typically paid by their heirs or beneficiaries. Estate tax, when levied, is collected on the total value of an individual’s estate. In the United States, the ......
tags: estate tax assets tax estate limit
04/07/2023
1045
Katherine
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