Letter of credit is a payment financial instrument where the buyer’s bank, pays a certain amount, to a seller within his own bank, in a specified time, with trade documents.
Bank Guarantee is a kind of obligation documentary form of the buyer’s bank to pay a deal amount (according to pre-invoice, invoice, buyer-seller signed contract) in cases when the buyer does not complete the obligation toward the seller.
For further information on Letter of Credit and Guarantee commissions go to Terms and Conditions.
For further information feel free to contactBusiness Unit/ Corporate Activities within American Bank of Investments.
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