Letter of credit is a written commitment from a bank guaranteeing that a buyer’s payment to the seller will be on time and full amount. If the buyer fails to keep its promise and is not in a position to pay the full amount, it is the liability of the guaranteeing bank to pay the […]

The letter of credit format is different for each type of letter. These are to be written in a professional tone. The format contains the introduction, name, address, date, subject, salutation, main body and finally the closing part of the letter. This format has to be followed to make the letter impressive and effective. The […]