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Documentary Credit

shipping container at sea
Definition

A documentary credit, also known as a letter of credit, is a financial instrument used in international trade transactions. It is issued by a bank on behalf of a buyer (importer) and guarantees payment to the seller (exporter) upon meeting specified conditions, typically related to the presentation of required documents. Documentary credits provide security and assurance to both parties involved in the transaction, mitigating payment and delivery risks in the supply chain.

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Documentary Credit

Definition

A documentary credit, also known as a letter of credit, is a financial instrument used in international trade transactions. It is issued by a bank on behalf of a buyer (importer) and guarantees payment to the seller (exporter) upon meeting specified conditions, typically related to the presentation of required documents. Documentary credits provide security and assurance to both parties involved in the transaction, mitigating payment and delivery risks in the supply chain.

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Get the Most Advanced Visibility Into the Journey of Your Ocean and Rail Containers

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Shipping container at seaShipping container at sea