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A letter of credit (LC) is a payment mechanism used in international trade to provide an economic guarantee from a bank to an exporter. Learn about the history, terminology, and process of LCs, as well as their advantages and disadvantages.
A credit dispute letter may work to eliminate or correct negative marks on your credit. However, that may not be the only step you need to take to improve your credit. Consider the following options:
UCP 600 is the latest revision of the Uniform Customs and Practice for Documentary Credits, a set of rules on the issuance and use of letters of credit. Learn about the history, scope, and application of UCP 600, as well as its companion publication ISBP 745 and its electronic version eUCP.
A goodwill letter is a formal request to a creditor to remove or adjust a negative item on your credit report due to a one-time hardship. Learn when and how to write an effective goodwill letter ...
Revolving credit is a type of credit that allows for repeated borrowing and repayment, such as credit cards or corporate loans. Learn the typical characteristics, advantages and disadvantages of revolving credit, and see some examples of different types of revolving loans.
Acceptance credit is a type of letter of credit that pays on a specific date if the terms are met. Learn about confirmed and unconfirmed acceptance credit, and how banks offer acceptance credit facilities for working capital finance.
A negotiable instrument is a document guaranteeing the payment of a specific amount of money, either on demand or at a set time, whose payer is usually named on the document. Learn about the concept, history, and types of negotiable instruments, and how they are distinguished from other contracts.
A credit note is a document issued by a seller to a buyer to reduce or eliminate the amount owed under an earlier invoice. Learn how credit notes are used in accounting, sales, and banking, and see examples and references.