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Siddhi Parekh

Finance Manager at Drip Capital

Other Articles by Siddhi Parekh

19 December 2022

Bill Of Exchange | Meaning, Format & Types

A bill of exchange is a document or a legally binding agreement negotiable instrument binding one party (buyer) to pay a fixed amount on demand or at a predetermined date to another party.

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Articles on Shipping Documents

01 September 2022

What Is An Inspection Certificate | Types, Purpose & More

An inspection certificate is a vital trade document required for importing specific consumer goods.The document is a crucial component in international trade transactions.

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Articles on Letter Of Credit

21 May 2021

Letter of Credit (LC) - Meaning, Process & Role In International Trade

Learn everything about Letter of Credit & its types including its role in international trade, lc payment types & banks involved using real-world examples. Sample LC included.

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Articles on Shipping Documents

05 September 2022

What is Letter of Indemnity | Meaning, Process, Template & More

A letter of indemnity (LOI) is a contractual document guaranteeing that specific provisions will be met between two parties in the event of a mishap leading to financial loss or damage to goods.

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Articles on Letter Of Credit

21 January 2021

Standby Letter of Credit (SBLC)| Meaning, Types & How It Works?

‘Standby Letter of Credit (SBLC) is a type of letter of credit (LC) where the issuing bank commits to pay to the beneficiary if the applicant fails to make the payment.

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05 April 2023

India EXIM Bank

It was assumed that India could only experience economic growth through increased domestic demand because significant barriers like inadequate infrastructure constrained export expansion.

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03 March 2023

Types of Negotiable Instruments

Negotiable instruments are written documents that represent a legal promise or commitment to pay a specified sum of money to a designated person or entity. They are used in financial transactions as a way to transfer value from one party to another. Some common types of negotiable instruments include cheques, drafts, promissory notes and bills of exchange.

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21 February 2023

Letter of Credit [LC] Explained with Process & Example

Learn everything about Letter of Credit & its types including its role in international trade, lc payment types & banks involved using real-world examples. Sample LC included.

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21 February 2023

Standby Letter Of Credit Process Flow

Standby Letter of Credit (SBLC) is a type of letter of credit (LC) where the issuing bank commits to pay to the beneficiary if the applicant fails to make the payment.

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21 February 2023

Green Clause Letter of Credit (LC)

A green clause Letter of Credit (LC) is an LC that includes a specific clause, which primarily lets buyers provide advance payments to sellers as a part of an international trade agreement.

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21 February 2023

Types of Letter of Credit

There are several types of letter of credit which are used by businesses for International or Domestic trade transactions. It is important to understand these types and their purpose, to use the appropriate letter of credit for your trade transaction.

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21 February 2023

Transferable Letter of Credit (LC) | The Complete Flow Chart

A transferable letter of credit (LC) is a credit facility that the first beneficiary can transfer to another party or the second beneficiary. Such a financial guarantee is applicable when the sellers of goods are agents/dealers and are not the suppliers or manufacturers themselves.

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06 February 2023

Understanding Factoring Vs. Bill Discounting

Factoring is a monetary transaction in which a firm sells its unpaid invoices or accounts receivable to a third party, a factor, at a discount in exchange for immediate cash.

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03 February 2023

What is Maturity Factoring

Factoring is a financial service that allows businesses to sell their accounts receivable (invoices) to a third party, known as a factor, in exchange for immediate cash. The factor advances a percentage of the invoice value to the business at the time of the sale and then collects payment from the customer when the invoice becomes due. There are various types of factoring in finance, and in this article, we discuss maturity factoring in detail.

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06 January 2023

LC at Sight | Meaning & Complete process

A sight letter of credit is a document which stands as a proof of payment in return of the goods or services to be released for the transportation by the seller. Once the goods or services reach the buyer, the buyer has to pay the financial institution that provided the Sight LC.

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