Merchant Trade Guarantee Corporation Company Limited

Letters of credit are a secure way of paying for goods in international trade. There is a concern between buyers and sellers in imports and exports as they are located in different countries. The buyer is afraid that the product will be misunderstood and the seller is afraid that the product will be priced. In this case, the letter of credit is the means by which the seller pays the price through the bank and guarantees the correct delivery of the goods to the buyer. Well, LC benefits both the importers and exporters, and today we will discuss on Import Letter of Credit in Thailand . Are you curious? Import letter of Credit is commonly used in international trade transactions, whereby the Issuing Bank promises to pay the Exporter. Yes, a letter of credit is mainly a kind of guarantee given by a bank through which the fidelity between the importer and the exporter is gained and they are assured that the seller will get the price of his product and the buyer is also assured tha

Non-performing Letter of Credit is nothing but a contractual chronicle that a bank releases on the favor of the applicants. It is also accepted as Standby Letter of Credit. It promotes global trade between firms that don’t know each other and have different laws and regulations. With a non-performing letter of credit , you can secure yourself by boosting a safety net that assures payment. However, to learn more, keep scroll down this page. A non-performing letter of credit is written contracts of an approving bank to pay the cash to a beneficiary on side of their applicant if the client does not pay the beneficiary. It helps ensure that the buyer will get the cargoes that are summarized in the detail. However, non-performing letter of credit gives a commitment from a bank, which should be a neutral third party. If the client drops to do anything, the bank grants the beneficiary to the customer. Finally, the finances come from the customer who applies for the letter of credit or n