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What are the different types of letters of credit?In: Personal Finance |
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Letters of Credit
Letters of credit are letter from creditors, banks, etc. For example, let's say you are a contractor and buy paint on a 30-day invoice. You might get a letter from the paint supplier.
It can be:
Revocable Credit
Irrevocable Credit
Confirmed Credit
Payment Credit
Negotiation Credit
Deferred Payment Credit
Acceptance Credit
Back-to-Back Credit
Transferable Credit
Red Clause Credit
Green Clause Credit
Packing Credit
Standby Credit
Revolving Credit
First answer by anonymous. Last edit by Aikabeatrice. Contributor trust: 17 [recommend contributor]. Question popularity: 270 [recommend question]
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