2007-03-10 03:00:12 · 3 answers · asked by Anonymous in Business & Finance ➔ Other - Business & Finance
I have never heard the term "callable" in an L/C.
Try this website. It has a great deal of information on letters of credit...
http://www.creditmanagementworld.com/letterofcredit.html
Be sure to look at the glossary pages, as that might be most helpful to you.
2007-03-11 20:00:20 · answer #1 · answered by pagamenews 7 · 0⤊ 0⤋
I have delt with letters of credits for years, and I have never heard the term DLC and 'CALLABLE'.
Generally speaking a letter of credit is not a guarantee of payment, rather, it is a form of financing - loan for lack of a better word.
The terms and conditions for international letters of credit are set up and enforced by the International Chamber of Commerce.
The most common forms are irrevocable, confirmed, and irrevocable confirmed.
The international department of your bank will be happy to explain letters of credit for you.
2007-03-10 12:35:29 · answer #2 · answered by jim_elkins 5 · 0⤊ 0⤋
I believe that means that full payment/repayment can be requested at any time.
2007-03-10 06:21:44 · answer #3 · answered by KillerKat 3 · 0⤊ 0⤋