Define the Letter of Credit.
举一反三
- Letter of credit belongs to banker’s credit.
- Remittance and collection belong to commercial credit, and letter of credit belongs to banker’s credit.
- Applicant completes a Letter of Credit Application which is set of instructions telling the issuing bank what needs to be included in the letter of credit.
- Which of the following statements about the bank credit is wrong? A: Bank credit is always regard as indirect credit. B: Bank credit is always regarded as short-term credit. C: Bank credit is always direct credit. D: Bank credit is always long-term credit.
- Karen is notified by her credit card company that the credit limit on her credit card has just been increased to $10,000. This is one example of a change related to A: incidental credit. B: closed-end credit. C: a line of credit. D: installment sales credit. E: overdraft protection.