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A Letter of Credit (LC) is a document issued by a bank on the instructions of a buyer of goods, giving the seller of the goods the right to receive payment under specified terms, when the bank receives the relevant documents (usually including an original bill of lading) within a given time period.
See also Bill of Lading
In 2018, 105 tons of saffron were exported from Iran, representing a 40 percent increase compared with last year. The chairman of the National Saffron Council of Iran said that saffron will be harvested until December. Exports are expected to ...Read More
Tags: exports
Last week China reported that exports and imports for the month of October exceeded forecasts. China recorded a trade surplus of $31.78 billion with the U.S. in October. The country's cumulative trade surplus with the U.S. in the first 10 ...Read More
The Norwegian Seafood Council revealed that Nigeria imported more than 9,000 metric tonnes of stockfish from Norway in 2017, making it the largest importer of Norwegian stockfish. The trade relationship dates back to 1890; pelagic fish, herring, mackerel, Tusk and ...Read More
THE growth of wine exports from Australia to China is showing signs of slowing down. The value of exports shipped to China in the year to September 30 was $1.06 billion, an increase of 24 per cent on the previous ...Read More
Tags: exports
