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lnetters

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There are 8 letters in LNETTERS ( E1L1N1R1S1T1 )

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Lnetters might refer to
A Letter of credit (LC), also known as a documentary credit, bankers commercial credit, is a payment mechanism used in international trade to perform the same economic function as a guarantee, by allocating risk undertaken by contracting parties. At law, a letter of credit is categorised within Financial law as a form of a Simple position, which alongside guarantees, derivatives, and insurance allocate risk as a form of a promise from one party to another.
* A letter of credit primarily achieves this by creating a written commitment from a bank on behalf of one party that payment be made to a third-party, provided that the terms and conditions stated therein have been met. Any documents tendered which are outlined in the letter of credit, the third party will be paid by the bank. A letter of credit is extremely common within international trade and goods delivery, where the reliability of contracting parties cannot be readily and easily determined. Its economic effect is to introduce a bank as underwriting the credit risk of the buyer paying the seller for goods.
* In doing so, it plays a central role in international trade by relying upon the dependability of financial institutions and their ability to pay. Crucial to a letter of credit is the beneficiary's (the seller) attempt to isolate itself from the credit risk of the buyer. That is to say, it is concerned primarily with the ability of the buyer to pay for the goods.
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