Presentation – What is a Letter of Credit?

Understanding the main characteristics and usage of a letter of credit.

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6. Parties in a Letter of Credit Transaction

Main parties involved in a letter of credit transaction are indicated below;

  • Issuing Bank
  • Beneficiary
  • Applicant
  • Advising Bank
  • Nominated Bank
  • Confirming Bank
  • Reimbursing Bank

letter of credit parties
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