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FrançaisIn a letter of credit transaction, the seller usually prefers that the incoming letters of credit be advised through its bank account. However, if the seller´s, bank lacks a correspondent banking relation with the issuing bank, it is unable to…
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In banking, the date on which payment for a transaction must be made.
Read MoreSilent confirmation
In letters of credit, in addition to the commitment of the issuing bank, the advising bank can, by silent confirmation, enter into its own, independent commitment to pay or accept. In contrast to the confirmed letter of credit, in this…
Read MoreSoft currency
A currency of a nation in which exchange may be made with difficulty. Countries with soft currencies typically have limited exchange reserves so that their currency is generally considered to be high risk.
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