Letter Of Credit And Its Features

A letter of credit is a most popular trade finance instrument used in international trade transactions where both the buyers & sellers are entirely uninformed about each other’s financial status & integrity. The exporter is often hesitant to ship goods or services against a sale contract where he/she is not sure whether the buyer would accept the documents or make the on-time payment. To ensure timely payment, the buyer usually obtains a legal undertaking from the bank, which is known as the International Letter of Credit Services. Let’s find in detail what an LC is and its features.

What is a Letter of Credit?

A letter of credit is a legal, financial document issued by a bank or financial institution in the favor of the exporter that guarantees an on-time payment on behalf of the buyer once the seller submits the required documents to the bank. In the event, that the buyer defaults or is unable to make the payment, the payment will be made by the issuing bank.

Availing of Letter of credit services Malaysia is a good way to ease payments in international transactions. This letter provides an assurance to the seller that they wound up paid on time, even though the buyer defaults as the risk of non-payment is transferred to the bank. Before issuing an LC, the bank must have certain documents in its possession.

Read more: https://uberant.com/article/18....86253-letter-of-cred

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US To Hold Trade Talks with Taiwan In A Move Blasted By China

As per the recent news, US trade officials have visited Taiwan to start off four days of negotiations over a proposed trade arrangement that has drawn resistance from the People’s Republic of China.

The meeting which is scheduled between US and Taiwanese negotiators in Taipei marks the first formal discussion over a text of a trade agreement after a beginning round of meetings in November. The discussion will be focused on proposed deals covering anti-corruption standards, trade by SMEs, administrative practices, and trade assistance.

As the U.S. and Taiwan agree in some of these areas, the two sides may declare independent arrangements regarding those subjects for what Taiwanese authorities called an “early harvest” as momentum works towards an extensive trade agreement. These two areas that have demonstrated more challenges between the US and Taiwan are - agriculture & digital trade which are likely to take longer to discuss.

The potential trade agreement between Taiwan and the US has disturbed Chinese authorities, a representative for the Chinese Embassy blamed Americans for “wrongdoings” by even arranging the deal, as per reported.

Read more: https://www.axioscreditbank.co....m/blogs/us-to-hold-t

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How to Grow And Revive A Struggling Business

The mindset you have plays a crucial role in overcoming business failure. It starts with a willingness to adapt and a flexible, upbeat attitude. Whether or not failure inevitably leads to success depends on how we handle it.

People tend to strike the most evident immediate issues with vigour and unreservedness. That makes sense and may even be wise from a business perspective. It is also a good idea to take a step back and consider the big picture to determine what is still effective and what may need to change. It is an opportunity to gain a deeper understanding of the size and scope of current issues and your company's business model, including how its weaknesses and strengths are implemented.

Working capital financing from an external source is referred to as trade finance. Companies that export or import goods frequently use this type of short-term credit. Trade finance instruments are put to use here.

It is typically supported by an insurance policy or secured against goods.

Read more: https://www.axioscreditbank.co....m/blogs/how-to-grow-

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Letter Of Credit Services Malaysia

A letter of credit is the most secure form of payment available in international trade for both importers and exporters. It is issued as a legal, written document guaranteeing that the seller will be paid on time by the issuing bank in the event the buyer defaults or is unable to pay. With Axios Credit Bank's letter of credit services Malaysia, you can enter into international trade transactions with overseas importers-exporters, boost your export sales, improve cash flow and access more markets.

Our letter of credit services Malaysia are available at the most reasonable prices. Our trade finance expert team has broad experience managing LCs and provides you with the most precise & inclusive range of solutions. Advise us of your requirements, and our finance team will help you gain the appropriate type of letter of credit. Whether it is a Standby LC or Red Clause LC. Apply now.

Visit us: https://www.axioscreditbank.com/letter-of-credit

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ADB Signs Supply Chain Finance Deal With Bank of Georgia

The latest news says the Asian Development Bank (AD has signed a supply chain finance deal with the Bank of Georgia to share around 50% of its risks related to supply chain finance transactions with the main purpose of strengthening financing and reducing supply chain management risks for SMEs.

As per ADB, this is the very first time it has signed such a type of arrangement, which will bring two institutions together to determine a risk-sharing program for avoiding the risks of corporate non-payment in supply chain finance transactions.

Steven Beck, head of the ADB’s trade and supply chain finance program (TSCFP) stated, “This deal expands our trade finance partnership with the Bank of Georgia that started in 2011 and will be stimulant in growing supply chain finance in the area.”

Read more: https://www.axioscreditbank.co....m/blogs/adb-signs-su

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