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Simple English definitions for legal terms

export letter of credit

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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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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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