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Standby letter of credit (SBLC): Operates like a commercial letter of credit, except that typically it is retained as a standby instead of being the intended payment mechanism. In other words, this is an LC which is intended to provide a source of payment in the event of non-performance of contract.
The method creates a chain-reaction when a letter is decrypted, this means that after decrypting a word, the letters of that word can be used to decrypt other words. [ 9 ] Depending on the type of cipher, a brute force attack method can be used, which attempts to use all possible keys for the encryption. [ 10 ]
In cryptography, a substitution cipher is a method of encrypting in which units of plaintext are replaced with the ciphertext, in a defined manner, with the help of a key; the "units" may be single letters (the most common), pairs of letters, triplets of letters, mixtures of the above, and so forth. The receiver deciphers the text by performing ...
A letter of credit is a written document from a bank guaranteeing the seller of a product or service will be paid as long as the goods or services are provided, as specified. Letters of credit are ...
Key escrow (also known as a "fair" cryptosystem) [1] is an arrangement in which the keys needed to decrypt encrypted data are held in escrow so that, under certain circumstances, an authorized third party may gain access to those keys.
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An advising bank (also known as a notifying bank) advises a beneficiary (exporter) that a letter of credit (L/C) opened by an issuing bank for an applicant (importer) is available. [1] An advising bank's responsibility is to authenticate the letter of credit issued by the issuer to avoid fraud.
Polygraphic substitution cipher: the unit of substitution is a sequence of two or more letters rather than just one (e.g., Playfair cipher) Transposition cipher: the ciphertext is a permutation of the plaintext (e.g., rail fence cipher) Historical ciphers are not generally used as a standalone encryption technique because they are quite easy to ...