This episode will explain what a Letter of Credit is and how it works. A letter of credit is a very important financial instrument that helps international cross-border trade and transactions.

What is a Letter of Credit?

These are simple and interesting stories and lessons from the world of finance. Some are from my own experiences and some are things learnt from others. Students of finance and young adults unfortunately learn certain things the hard way. What I am trying to do is to bring forth some thoughts that we should all be aware off. Even people with more than 20 years of finance experience make silly mistakes for a variety of reasons, and this ends up costing them time and money, along with frustrations.  But by then its too late!  You need to act at the outset, not after the die is cast.

Business

These are simple and interesting stories and lessons from the world of finance. Some are from my own experiences and some are things learnt from others. Students of finance and young adults unfortunately learn certain things the hard way. What I am trying to do is to bring forth some thoughts that we should all be aware off. Even people with more than 20 years of finance experience make silly mistakes for a variety of reasons, and this ends up costing them time and money, along with frustrations. But by then its too late! You need to act at the outset, not after the die is cast.

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What is a Letter of Credit?

What is a Letter of Credit?