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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.
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.
A business line of credit can be unsecured or secured (typically, by inventory, receivables or other collateral). Lines of credit are often referred to as revolving and can be tapped into repeatedly. For instance, if there is access to a $60,000 line of credit and $30,000 is taken out, access to the remaining $30,000, if necessary, remains.
Amy Lynn Carter, daughter of Jimmy and Rosalynn Carter, read a love letter written by her father 75 years ago during Rosalynn's tribute service in Atlanta Nov. 28.
Brooklyn Peltz Beckham celebrated wife Nicola Peltz Beckham’s 30th birthday with the sweetest words.. In honor of the Lola director’s milestone celebration on Jan. 9, Brooklyn, 25, shared a ...
Meta CEO Mark Zuckerberg on Tuesday said the social media company is ending its fact-checking program and replacing it with a community-driven system similar to that of Elon Musk's X.
In academia, a letter of intent, also often referred to as a statement of intent, is part of the admissions process of a particular academic program in graduate school. These letters often act as a pivotal decider for admission committees looking to understand an applicant's academic and professional goals, and their fit within the program.
(The Center Square) – While many states expanded and adopted school choice programs in 2024, some advocates are excited about new education options for families in 2025 – made possible because ...