Letters of Credit
A letter of credit (LC), also known as a documentary credit or bankers commercial credit, or letter of undertaking (LoU), is a payment mechanism used in international trade to provide an economic guarantee from a creditworthy bank to an exporter of goods. Letters of credit are used extensively in the financing of international trade, where the reliability of contracting parties cannot be readily and easily determined. Its economic effect is to introduce a bank as an underwriter, where it assumes the counterparty risk of the buyer paying the seller for goods.
WikipediaPublications
LCP: Lane Clark & Peacock · 17 April 2024 English
(We note that the government Note on prudence of 0.6% pa: intends to consult on the use of the PPF’s existing reserves and we think that that consultation should be …
not want to offer them • Surety bonds and letters of credit: these can be helpful but are complex to put …
ASPI: Asia Society Policy Institute · 16 April 2024 English
All statements of fact and expressions of opinion contained in this report are the sole responsibility of its authors and may not reflect the views of the organization and its …
reportedly prohibiting banks from issuing letters of credit for trade involving any port in the Baltic …
NBER: National Bureau of Economic Research · 11 April 2024 English
In recent years, assets of non-bank financial intermediaries (NBFIs) have grown significantly relative to those of banks. These two sectors are commonly viewed either as operating in parallel, performing different …
margin waivers by clearing members based on letters of credit or guarantees from other banks; intraday …
World Bank Group · 1 April 2024 English
sponsors of utility- scale projects to secure letters of credit from commercial banks to backstop payment …
UNODC: United Nations Office on Drugs and Crime · 25 March 2024
Another specific feature of waste trafficking is the role of companies and legal persons, rather than natural persons.7 In fact, many of the perpetrators of waste trafficking are corporations operating …
affect the environment, such as transfer, letters of credit, documents against wildlife trafficking. In …
Stimson Center · 18 March 2024 English
Corruption and extortion are seemingly inescapable in this sector, from the awarding of diesel contracts by the Government of South Sudan (GoSS), to the declaration of imports and payment of …
oil. The Sentry reported on South Sudan’s “letters of credit” corruption scandal, whereby between 2012 … GoSS received a credit line – in the form of letters of credit – of nearly 1 billion USD from Qatar National … conduit for some $300 million of nontransparent letters of credit intended for fuel purchases under the program … is imported High-level scandal • • • • • (Letters of Credit)• • • TAX + THEFT Nimule border crossing Traders … 31 Ibid. 32 According to the Sentry, the letters of credit were intended to help local traders pay for …
EU: European Union · 15 March 2024 English
bonds or other financial commitments; (f) letters of credit, bills of lading, bills of sale; (g) documents …
IEEFA: Institute for Energy Economics and Financial Analysis · 14 March 2024 English
Scaling up Rooftop Solar Deployment in Bangladesh 9 Factors Affecting Rooftop Solar Expansion • Stakeholders’ priority and motivation; • Finance and associated challenges; • Market and quality assurance; • Lack …
solar implementation. • The delay in issuing letters of credit (LCs) to import rooftop solar accessories …
IRENA: International Renewable Energy Agency · 11 March 2024 English
Renewable energy
risk: ATI selects a bank that issues stand-by letters of credit to independent power producers with the backing …
Brookings Institution · 7 March 2024 English
In 2016 the Center for Sustainable Economy (CSE) proposed a solution for addressing the market failures associated with construction and operation of fossil fuel infrastructure--fossil fuel risk bond (FFRB) programs. …
surety or performance bonds, trust accounts, letters of credit, or catastrophic insurance) that make fossil … including corporate financial test, insurance, letters of credit, surety bonds, and trust funds that summarize … insurance, surety bonds, corporate guarantees, letters of credit, certificates of deposit, or protection and …