BF3212: Trade Structured & Supply Chain Finance 1. An irrevocable Letter of Credit is an instrument issued by a financial institution (henceforth referred to as Issuing Bank) to serve as a means to achieve one of the objectives stated below. a. Assure Applicant that Beneficiary will complete delivery of ordered goods b. Assure Beneficiary that Applicant will honor all claims in accordance with the terms stated in the letter of credit c. Assure Applicant that Beneficiary is in the good financial state d. Assure Beneficiary that upon their submission of documents strictly
BF3212: Trade Structured & Supply Chain Finance 1. An irrevocable Letter of Credit is an instrument issued by a financial institution (henceforth referred to as Issuing Bank) to serve as a means to achieve one of the objectives stated below. a. Assure Applicant that Beneficiary will complete delivery of ordered goods b. Assure Beneficiary that … Read more