a kind of bank instrument to guarentee payment in import and export purposes. I wanted to know what is the different between LC (letter of Credit) and DLC (Documented Letter of Credit). What bank normally issued DLC and all related matters. thanking in advance
2007-03-05 14:47:48 · 3 answers · asked by mad 2 in Business & Finance ➔ Other - Business & Finance
The reason that companies use Letters of Credit is to protect both the buyer and seller so the buyer doesn't pay if the goods don't ship within the stated terms and conditions of the letter of credit and the seller gets paid when he/she meets those terms and conditions.
In order to turn that Letter of Credit into cash, the seller must present documentation that the goods shipped as stated. So all Letters of Credit require some form of documentation depending on the terms of that Letter of Credit. There is not a specific kind of Letter of Credit that is called a "Documented" Letter of Credit.
2007-03-06 07:31:27 · answer #1 · answered by International Business Training 2 · 0⤊ 0⤋
Dlc Letter Of Credit
2016-12-17 11:42:09 · answer #2 · answered by ? 4 · 0⤊ 0⤋
I believe the corect definition is DOCUMENTARY letter of credit.
You will be able to find more information at this website...
http://www.creditmanagementworld.com/letterofcredit.html
Be sure to also read the glossary areas.
2007-03-07 11:28:22 · answer #3 · answered by Anonymous · 0⤊ 0⤋