What are the differences between confirmed and unconfirmed letters of credit?
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Letter of credit is an irrevocable undertaking of the issuing bank to honour a complying presentation. The beneficiary of the letter of c...
What is Confirmation? What are the Advantages of a Confirmed Letter of Credit?
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Letter of credit is a payment method in international trade. I have been writing articles covering a variety of topics of letters of credit....
What are the Differences Between Confirming Bank and Nominated Bank?
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In theory, it is possible that a nominated bank and a confirming bank are present as two separate banks in a letter of credit transaction. ...
What are the Differences Between Advising Bank and Nominated Bank?
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In most cases, the advising bank and the nominated bank is the same institution in a typical letter of credit transaction. Only in rare oc...
Nominated Bank
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On this article you can find the definition of a nominated bank, its roles and responsibilities in a typical letter of credit transaction. ...
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