{"id":5616,"date":"2019-03-19T22:16:39","date_gmt":"2019-03-19T22:16:39","guid":{"rendered":"https:\/\/utb.sl\/?page_id=5616"},"modified":"2019-03-19T22:21:30","modified_gmt":"2019-03-19T22:21:30","slug":"lc","status":"publish","type":"page","link":"https:\/\/www.utb.sl\/?page_id=5616","title":{"rendered":"LETTER OF CREDITS"},"content":{"rendered":"<p>[vc_row][vc_column width=&#8221;2\/3&#8243;][vc_column_text]Letters of Credits (LC)\/Documentary Credits are written undertaking issued by a UTB, on behalf of a buyer, to the seller, to pay for goods or services. The seller must present documents which comply with the terms and conditions of the credit to the bank.<\/p>\n<h4>Features<\/h4>\n<ul>\n<li>LC can either be Import or Export LC<\/li>\n<li>LC guarantees payment from buyer to seller.<\/li>\n<li>It can be irrevocable or revocable.<\/li>\n<li>It is an insurance contract for both parties involved to eliminate credit risk<\/li>\n<li>It also clears up payment delays.<\/li>\n<li>It assures expert examination of documents<\/li>\n<li>Title documents are controlled by the bank<\/li>\n<li>LC is expensive<\/li>\n<\/ul>\n<h4>Benefits<\/h4>\n<ul>\n<li>Offer degree of safety when importer or exporter are in untested business relationship<\/li>\n<li>Quick and more secure means of payment for seller<\/li>\n<li>Customers have access to foreign currency at very competitive rates<\/li>\n<li>The customer\/buyer lowers the risk of paying for substandard goods<\/li>\n<li>Facilitating Financing<\/li>\n<\/ul>\n<p>[\/vc_column_text][\/vc_column][vc_column width=&#8221;1\/3&#8243;][stm_sidebar sidebar=&#8221;311&#8243;][\/vc_column][\/vc_row]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column width=&#8221;2\/3&#8243;][vc_column_text]Letters of Credits (LC)\/Documentary Credits are written undertaking issued by a UTB, on behalf of a buyer, to the seller, to pay for goods or services. The seller must present documents which comply with the terms and conditions of the credit to the bank. Features LC can either be Import or Export LC LC<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-5616","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/www.utb.sl\/index.php?rest_route=\/wp\/v2\/pages\/5616","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.utb.sl\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.utb.sl\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.utb.sl\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.utb.sl\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5616"}],"version-history":[{"count":4,"href":"https:\/\/www.utb.sl\/index.php?rest_route=\/wp\/v2\/pages\/5616\/revisions"}],"predecessor-version":[{"id":5620,"href":"https:\/\/www.utb.sl\/index.php?rest_route=\/wp\/v2\/pages\/5616\/revisions\/5620"}],"wp:attachment":[{"href":"https:\/\/www.utb.sl\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5616"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}