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Simplified Trade Finance

Articles On Types Of Letter Of Credit

Trade Advice
Irrevocable Letter of Credit What is it & How does it work

Irrevocable Letter of Credit | What is it & How does it work

An ILOC gives the seller a guarantee that he/she will receive the fixed amount due, and also by the right time from the buyer. An ILOC provides added risk protection for the seller by promising a guarantee from both the buyer's and the seller's bank. Read More

Trade Advice
SBLC Standby Letter of Credit Meaning & The complete guide to its process

SBLC | Standby Letter of Credit | Meaning & The complete guide to its process

‘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. Read More