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Letter of credit Related: Definition of Custom Duty - Customs Act,196...
A letter of credit, or "credit letter" is a letter from a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount. In the event that the buyer is unable to make a payment on the purchase, the bank will be required to cover the full or remaining amount of the purchase.
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Letter of credit Related: Definition of Custom Duty - Customs Act,1962, Indirect Tax Laws?
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Letter of credit Related: Definition of Custom Duty - Customs Act,1962, Indirect Tax Laws? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about Letter of credit Related: Definition of Custom Duty - Customs Act,1962, Indirect Tax Laws? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Letter of credit Related: Definition of Custom Duty - Customs Act,1962, Indirect Tax Laws?.
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