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A letter of understanding (LOU) is a formal text that sums up the terms of an undertaking of a contract. It is often written as a step before a more detailed contract is issued and may include tasks, milestones and work steps.
A letter of credit (LC) is a payment mechanism used in international trade to provide an economic guarantee from a bank to an exporter. Learn about the history, terminology, and process of LCs, as well as their advantages and disadvantages.
A letter of recommendation or recommendation letter, also known as a letter of reference, reference letter, or simply reference, is a document in which the writer assesses the qualities, characteristics, and capabilities of the person being recommended in terms of that individual's ability to perform a particular task or function.
Customer service is a tough industry to work in, but with the right skills you can be successful and reap the awards of helping clients. Every company has customer service representatives to ...
Learn about the different corporate titles or business titles given to corporate officers to show their duties and responsibilities in various organizations. Compare the corporate titles and structures in the US, UK, Japan, South Korea and other countries.
A service-level agreement (SLA) is an agreement between a service provider and a customer that defines the quality, availability, and responsibilities of the service. Learn about the components, types, and metrics of SLAs in different contexts, such as IT, telecom, and finance.
A chief human resources officer (CHRO) or chief people officer (CPO) is a corporate officer who oversees all aspects of human resource management and industrial relations policies, practices and operations for an organization. Learn about the roles, responsibilities, evolution and path to becoming a CHRO.
In the United States, loan officers held about 354,800 jobs in 2022. The largest employers of loan officers were as follows: [4] Credit intermediation and related activities - 82%; Management of companies and enterprises - 4%; Automobile dealers - 3%; The credit intermediation industry includes commercial banks, savings institutions, and ...