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February 21, 2016

Letter of credit is the document which states the bank’s obligation to repay the seller of the goods and services the predetermined amount of money in the timely submission of the document that confirms the shipment of the products and provision of the services.

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February 7, 2016

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Ensuring Sellers

Bank Guarantee and Standby Letter of Credit guarantee sellers that they will get paid in case buyers fail to fulfill their obligations. The seller can “call in” the bank guarantee or the letter of credit to and get reimbursed.

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