DF 10 Business Lawanthony1991
DF10 - Letters of Credit (Ch. 18) - Business Law
On page 311 of your text book, you are introduced to the concept of a "letter of credit." 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?
- 6 years ago
- American History.
- SCI 209 (Oceanography) Week 3 A+ Graded
- ACC 305 WEEK 5 ASSIGNMENT 5
- "Service Failure Recovery"
- Week 5 Lab 3 Submission Click the link above to submit your assignment. Students, please view the "Submit a Clickable Rubric Assignment" in the Student Center. Instructors, training on how to grade is within the Instructor Center. If you have purchased
- Americans with Disabilities Act
- Need Answers to Business Finance Lab Questions
- NEED HELP