Letter Of Credit Related Articles

May - 2022

18

Registration of Irrevocable Commercial Letter of Credit (ICLC) for Wheat Export

Registration of Irrevocable Commercial Letter of Credit (ICLC) for Wheat Export

Registration of Irrevocable Commercial Letter of Credit (ICLC) for Wheat Export India has banned wheat exports with immediate effect as part of measures to control rising domestic prices, according to a DGFT Notification No. 06/2015-2020 dated May 13, 2022. DGFT also announced that the export shipm ...

Apr - 2022

06

SIDBI Inland Letter of Credit (INLC) Scheme

SIDBI Inland Letter of Credit (INLC) Scheme

SIDBI Inland Letter of Credit (INLC) Scheme To facilitate the flow of credit to Micro, Small, and Medium Enterprises for meeting credit needs, the Small Industrial Development Bank of India (SIDBI) has launched the SIDBI Inland Letter of Credit (INLC) Scheme. Under this scheme, financial assistance ...

Jan - 2019

17

Credit Score

Credit Score

Credit Score Credit score comprises of a three digit numeric value which signifies the creditworthiness of a particular individual. The range of creditworthiness starts from 300 to 900 with 300 being the least and 900 being the highest. A Credit score is computed after the credit history of an indi ...

Dec - 2018

05

Letter of Credit (LC)

Letter of Credit (LC)

Letter of Credit (LC) A Letter of Credit (LC) is a document that guarantees the buyer’s payment to the sellers. Businesses widely use this assured form of payment in trade transactions. It is issued by a bank and ensures timely and full payment to the seller. If the buyer cannot make such a payment ...

Sep - 2015

20

Types of Letter of Credit

Types of Letter of Credit

Types of Letter of Credit A letter of credit is an assured form of payment which is widely used by businesses in trade transactions. In a Letter of Credit (LC) transaction, a bank undertakes to make payment to a seller or beneficiary on submission of documents stipulated in the LC. In this article, ...

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