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2. Letter of credit - Wikipedia

   en.wikipedia.org/wiki/Letter_of_credit

   A letter of credit (LC), also known as a documentary credit or bankers commercial credit, or letter of undertaking (LoU), is a payment mechanism used in international trade to provide an economic guarantee from a creditworthy bank to an exporter of goods.

3. Letter of understanding - Wikipedia

   en.wikipedia.org/wiki/Letter_of_understanding

   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.

4. Trade finance - Wikipedia

   en.wikipedia.org/wiki/Trade_finance

   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 ...

5. Can a goodwill letter get late payments removed from your ...

   www.aol.com/finance/goodwill-letters-payments...

   A goodwill letter is a formal letter sent to a creditor, lender or collection agency to request forgiveness for a late payment or other negative item on your credit report. In the letter, you ...

6. Demand guarantee - Wikipedia

   en.wikipedia.org/wiki/Demand_guarantee

   Major differences distinguish letters of credit from "demand guarantees"; in the latter instrument the obligation to pay is conditioned within the terms of the bank's promise, therefore if the demand guarantee is payable upon the beneficiary's written first demand he is assured payment notwithstanding any defence related to any other underlying ...

7. Documentary collection - Wikipedia

   en.wikipedia.org/wiki/Documentary_collection

   Make international trade operations more flexible, Use Documentary Collection in cases when the seller does not want to deliver goods to the buyer on "open account" basis, but due to a long-term stable business relationship between the parties there is no need for security provided by a Letter of Credit or payment guarantee, Documentary collection is suitable to the seller: if the seller has ...