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In the documentary bills the seller faces a lot of risk as the risk of non-acceptance or non-payment of goods. This poses a main risk for the seller. These additional securities inside this method arise from the fact that, the letter of credit is issued through the bank and not through the party to the contract buyer. This instrument guarantees payment to the seller on fulfillment of specific conditions provided therein. The Letter of Credit can be explained as an instrument issued through a bank in favour of the seller termed as beneficiary whereby the issuing bank assumes to pay the beneficiary a specific sum against delivery of certain documents inside a stated period of time. There are several forms of a letter of credit; the most broadly used are given as:
1) Revocable vs. Irrevocable Letter of Credit
2) Confirmed vs. Unconfirmed Letter of Credit
3) Revolving Letter of Credit
4) Transferable Letter of Credit
5) Back to Back Letters of Credit
6) With Recourse vs. Without Recourse Letter of Credit.
A few of the main focus areas of treasury operations are as follows: 1) Cash Flow-Receipts and Disbursements: Accelerating the collection of cash receipts and mobilization or
Disadvantages of Simulation 1) Although all models are simplification of reality, they may still be complex and require a substantial amount of managerial and technical time.
Describe the important role that the corporate level strategy has in relation to the development of the business and functional strategy in a multi -business organization
1. Common-size analysis of company''s income statement, Balance sheet 2. Horizontal analysis of company''s income and balance sheet : for the last two years for both 3.perform rati
company jobcosting system
Cause Company is planning to invest in a machine with a useful life of five years and no salvage value. The machine is expected to produce cash flow from operations of $20,000 in e
Difficulties in cost reduction 1) Resistance by employees to pressure to reduce cost usually because the nature and purpose of the campaign has not been properly explained to t
What are the Disadvantages of budgetary control 1) Uncertain future: the budgets are prepared for the future period. Despite best estimates made for the predictions may not
What Procedure are followed in kaizen costing In brief kaizen costing involves setting a new cost reduction target every month. The difference between the target profits and th
Anderson Nuclear Power Plant will be "mothballed" at the end of its useful life (approximately 20 years) at great expense. The expense recognition principle requires that expenses
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