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Simple English definitions for legal terms

export letter of credit

Read a random definition: reasons for allowance

A quick definition of export letter of credit:

An export letter of credit is a document issued by a bank that promises to pay a seller for their goods as long as certain conditions are met. It is used in international trade to ensure that the seller gets paid and the buyer receives the goods they ordered. The letter of credit is a guarantee from the bank that the seller will be paid, even if the buyer doesn't fulfill their obligations. It is an important tool for businesses that want to reduce the risk of non-payment in international transactions.

A more thorough explanation:

An export letter of credit is a type of letter of credit used in international trade. It is issued by a foreign bank at the request of a foreign buyer in favor of a domestic exporter. The letter of credit guarantees payment to the exporter as long as they meet the specified conditions.

For example, let's say a company in the United States wants to export goods to a company in China. The Chinese company requests an export letter of credit from their bank, which is issued to the U.S. exporter's bank. The U.S. exporter ships the goods and presents the required documents to their bank, which then sends them to the Chinese bank for payment.

The export letter of credit provides security for both the buyer and the seller in an international transaction. The buyer knows that the goods will be shipped and the seller knows that they will be paid as long as they meet the conditions of the letter of credit.

export declaration | export quota

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18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
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