Tag: Letters Of Credit

Understanding Letters of Credit For Commercial Transactions

Using Letter Of Credit For Commercial Loans

In order to serve their customers and perform their duties, commercial lenders should be familiar with the nature and application of letters of credit.  A letter of credit substitutes one credit (for example the borrower) with another credit (typically a financial institution).  The use of letters of credit to reduce risk is very popular in international trade.  However, community bank commercial lenders should understand the nature and application of letters of cred

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