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  • 2 Documentary Credit DC Department

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    Mirza Hussain
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    Alfalah Bank has a full-fledged documentary credit department that handles letters of credit, which are an essential instrument for modern global trade. A letter of credit represents a bank's commitment to pay the seller of goods or services a certain amount if they present stipulated documents within a prescribed time period showing shipment of conforming goods. For imports and exports, parties first agree to a sales contract detailing terms and conditions, and payment is often made via letter of credit which involves four parties - the exporter beneficiary, the importer's issuing bank, the exporter's advising bank, and the negotiating bank.

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    Alfalah Bank has a full-fledged documentary credit department that handles letters of credit, which are an essential instrument for modern global trade. A letter of credit represents a bank's commitment to pay the seller of goods or services a certain amount if they present stipulated documents within a prescribed time period showing shipment of conforming goods. For imports and exports, parties first agree to a sales contract detailing terms and conditions, and payment is often made via letter of credit which involves four parties - the exporter beneficiary, the importer's issuing bank, the exporter's advising bank, and the negotiating bank.

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    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
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    7 views1 page

    2 Documentary Credit DC Department

    Uploaded by

    Mirza Hussain
    Alfalah Bank has a full-fledged documentary credit department that handles letters of credit, which are an essential instrument for modern global trade. A letter of credit represents a bank's commitment to pay the seller of goods or services a certain amount if they present stipulated documents within a prescribed time period showing shipment of conforming goods. For imports and exports, parties first agree to a sales contract detailing terms and conditions, and payment is often made via letter of credit which involves four parties - the exporter beneficiary, the importer's issuing bank, the exporter's advising bank, and the negotiating bank.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    2 Documentary CreditDocumentary Credit DC DepartmentDC Department Alfalah Bank has his full-fledged documentary credit department.

    As a creditinstrument and as a means of making as a payment the documentary creditis an essential instrument for conducting word trade today. A documentary credit represents a commitment bank to pay thes eller of goods or services a certain amount provided presen t stipulated documents evidencing the shipment of the goods with prescribed period of time. For the cases of imports or exports first the parties have to do upon a sale contract regarding the term and condition of sale. One mode of payment isby L/C, which is secured, and now days mostly use the business. Letter of credit is under taking by opening bank (Importers bank theE x p o r t e r s b a n k ( N e g o t i a t i n g b a n k ) t h a t i t w i l l m a k e p a y m e n t i f documents are as per terms of LC. Four Parties Are Involved In Letter Of CreditFour Parties Are Involved In Letter Of Credi 2. B e n e f i c i a r y E x p o r t e r 3. I s s u i n g B a n k B a n k O f I m p o r t e r 4. A d v i s i n g B a n k B a n k O f I m p o r t e r

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