TT - Telegraphic Transfer - A method of payment where and immediate transfer of funds takes place between two bank accounts. in this case, the buyer will have no control over the receipt of the goods once he has made the payment.
LC - Letter of Credit - This a method of transfer where the parties' banks stand guarantor to the transaction. Such an agreement ensures security for both parties. The buyer cannot collect the goods till he has paid the money and the seller cannot collect payment till he has shipped the goods. The effectiveness of the LC will depend on the agreement between both parties.
l c
LC = Payment thru Letter of Credit DA = Payment against acceptance DP = Payment against receipt of document TT = Telegraphic transfer
LC stands for Lucent Connectors
Guild wars, you buy the game and that's it no extra payments other than expansions. tt
LC for 30,60,90,or 120 days is called Usanse LC
what is lc opening?
lc = learning centre
Treasury Tax and Loan (TT&L) payments consist of federal income taxes deducted from employee paychecks made directly by business firms to depository institutions, rather than in the US Treasury's accounts at the Federal Reserve, thereby allowing the tax payments to remain in the banking system. The TT&L program aids in maintaining the stability of financial markets by reducing uncertainty about the supply of reserves in the banking system and simplifying the Fed's implementation of monetary policy.
Tt, tt -- novanet :)
An import LC is one made with reference to the buyer but with an export LC, the LC is changed to that with reference to the Issuing bank. This gives a stronger guarantee of payment to the seller.
LC is Letter of credit
What do you mean by the term LC and when it is used