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An end-user certificate, or EUC, is a document used in international transfers, including sales and arms provided as aid, of weapons and ammunition to certify that the buyer is the final recipient of the materials and does not plan on transferring the materials to another.
Letters of credit are also sometimes used as part of fraudulent investment schemes. [31] In the international banking system, a letter of undertaking (LOU) is a provisional bank guarantee, under which a bank allows its customer to raise money from another bank's foreign branch in the form of short-term credit.
Construction bidding is the process of submitting a proposal to undertake, or manage the undertaking of a construction project.The process starts with a cost estimate from blueprints and material take offs.
Letter of credit: It is an undertaking/promise given by a Bank/Financial Institution on behalf of the Buyer/Importer to the Seller/Exporter, that, if the Seller/Exporter presents the complying documents to the Buyer's designated Bank/Financial Institution as specified by the Buyer/Importer in the Purchase Agreement then the Buyer's Bank ...
SBLC – Stand By Letter of Credit; SCM – Supply Chain Management; SCBA – Social Cost Benefit Analysis; SEBI – Securities and Exchange Board of India; SEC – Securities and Exchange Commission; SEDOL – Stock Exchange Daily Official List; SF – Structured Finance; SG&A – Sales, General, and Administrative expenses
A Letter of Understanding (LOU) is a formal text that sums up the terms of an undertakings of a contract which may have been negotiated up to this point only in spoken form or otherwise informally. It reviews the terms of an agreement for a service , a project or a deal and is often written as a step before a more detailed contract is issued.
The first record of procurement activities dates back to 3,000 BC when the Egyptians managed materials and labor for the pyramids using scribes. The scribes recorded how much material and how many workers were needed for different tasks. [11] [12] Formalized acquisition of goods and services has its roots in military logistics. The Romans ...
Specification - an explicit set of requirements to be satisfied by a material, product, or service. Subcontractor is an individual or in many cases a business that signs a contract to perform part or all of the obligations of another's contract. Supplier - A distributor or other company which supplies materials, parts, equipment, etc.