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What Is A Confirmed Letter Of Credit?

2010/4/22 15:42:00 24

Confirmed Letter Of CreditWhat Is A Confirmed Letter Of Credit?


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The letter of credit issued by the issuing bank is guaranteed by another bank for payment of documents payable in accordance with the terms and conditions of the letter of credit.

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What Is A Bilateral Contract?

Bilateral contract: it means that both parties bear mutual obligations and the right to buy and sell goods at the same time. One party's obligations are the rights enjoyed by the other party. In a contract, the seller's basic obligation is to deliver the ownership of the goods, and the buyer's basic obligation is to pay the goods, which is the main feature of the contract for the sale of goods.