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What is letter of credit? |
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Answer» A letter issued by bank acting as a mediating agent for payment between exporter (in India) and importer (in foreign country) especially when the parties are unknown to each other is called- letter of credit.] [Underwriting is a detailed credit analysis by the bank before granting a loan to an individual or to a company. This analysis is done based on the information provided by the borrower. |
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