A letter of credit is a bank document assuring that a seller will receive payment as long as certain documentary delivery conditions have been met...view all
an undertaking given by a bank or financial institution on behalf of an applicant and in favor of a beneficiary. The issuer of a guarantee undertakes that in case the buyer fails to meet his obligations...view all
As an instrument, a SWIFT is a message sent by a bank or financial institution who is a recognised member of the Society for Worldwide Interbank Financial Telecommunication...view all
