Dear Sir,
what does mean of "Deffered Letter of Credit"
Regds
Irman Nazir
Deffered Letter of credit
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Imran Nazir
- Posts: 1
- Joined: Wed Nov 04, 2009 3:41 pm
- First Name: Imran
- Last Name: Nazir
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Judith
- Posts: 118
- Joined: Thu Mar 12, 2009 8:59 am
Context?
If you are referring to 'Deferred Payment Letters of Credit', they refer to credits where payment under a compliant drawing is due at the future date. The issuing bank (or nominated bank) will provide a deferred payment undertaking to this effect. (A bill of exchange will NOT be used to formalise such acceptances.)