A letter of credit is often used in international business transactions to help insure payment.  Here is a link from the U.S. Export-Import Bank that takes you through the steps in a letter of credit:  www.exim.gov/smallbusiness/moreinfo/Letter-of-Credit-vs-Open-Account.cfm (Links to an external site.) (right click, new tab).
With the advent of digital technology, increasingly, even small businesses are becoming global in scope.  If you had a sale transaction for $1M, would you utilize a letter of credit?  What if you knew the customer and were satisfied with their credit?  Would you consider selling product on “open account”?  Does your answer depend on where you might be shipping your products?
 
“WE’VE HAD A GOOD SUCCESS RATE ON THIS ASSIGNMENT. PLACE THIS ORDER OR A SIMILAR ORDER WITH Essayfount.com AND GET AN AMAZING DISCOUNT”
The post Letters of Credit – Business Law appeared first on essayfount.


What Students Are Saying About Us

.......... Customer ID: 12*** | Rating: ⭐⭐⭐⭐⭐
"Honestly, I was afraid to send my paper to you, but you proved you are a trustworthy service. My essay was done in less than a day, and I received a brilliant piece. I didn’t even believe it was my essay at first 🙂 Great job, thank you!"

.......... Customer ID: 11***| Rating: ⭐⭐⭐⭐⭐
"This company is the best there is. They saved me so many times, I cannot even keep count. Now I recommend it to all my friends, and none of them have complained about it. The writers here are excellent."


"Order a custom Paper on Similar Assignment at essayfount.com! No Plagiarism! Enjoy 20% Discount!"