A commercial letter of credit is a direct payment method in which the issuing bank makes the payments to the beneficiary.
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Letter Of Credit Definition | Investopediaters of credit typically within two business days, guaranteeing payment by the confirming Citibank branch. This benefit is especially valuable when a client is located in a potentially unstable economic environment. Types of Letters of Credit <span>A commercial letter of credit is a direct payment method in which the issuing bank makes the payments to the beneficiary. In contrast, a standby letter of credit is a secondary payment method in which the bank pays the beneficiary only when the holder cannot. A revolving letter of credit lets the customer Summary
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