I Am 59 Years Old And Is Banker By Profession Having Vast Experience In The Field Of International Banking I.E. Trade Finance Import Export. I Am Interested To Face New Challenges In My Life.
I Worked In MCB Bank For About 27 Years In The Field Of Import – Export And Foreign Remittance Outward And Inward.
When Any Business Man Wants To Import From any Country Then An Irrevocable Letter Of Credit Is The Best Way To Import From Any Country.
A Letter Of Credit Is An Undertaking Between Two Banks On Behalf Of Importer And Exporter. The importer and exporter have no any trust between each other therefore a letter of credit comes into existence.
The importers bank is called opening bank and the exporters bank is called negotiating bank. There is another bank exists which is called advising bank.
When the LC receiving bank is other than negotiating bank then it is called an advising bank who only advised the LC to the beneficiary.
If the LC called for negotiation by any other bank then beneficiary is free to negotiate the LC from any other bank.
In some cases if the LC is called for confirmation of LC then the confirming bank and reimbursing bank will be the same.
Hi! Welcome to steemit :)
Welcome you too :)
hello and welcome, good luck in steemit, you can upvoit my blog
Thank you for ur good words keep in touch
Welcome to [email protected] my pleasure to see you here.steemit is a very good community here you will enjoy a lot.best of luck for future help and upvotes please follow me.@sohailharoon
Thank you for your admirable words for my post and in future will share to steemit community more information
welcome! Glad to see you here. Hope you dont get as addicted as I am to steemit! ;-)
Thank you for your compliments :)
welcome on steemit sir
thank you
welcome. you written almost your job descripton at your job. it would be better to educate about new trends.
thank you :)
Welcome to Steemit aliakberabro!
May your path be blessed :D
Upvoted and resteemed.
Thank you for giving me admirable and praised remarks. I hope positive and encouraged remarks from steemit community.
Congratulations @aliakberabro! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOP