What Is The Difference Between Letter Of Credit And Cad?
What is the difference between a letter of credit at site and cash against documents? Thanks
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A letter of Credit is basically a document that is issued by a financial institution. It provides an irrevocable payment undertaking to a beneficiary against complying documents as stated in Letter of Credit. On the other hand a CAD or Cash against Documents is a kind of transaction where the buyer assumes the title for goods that are being purchases on payment of sale price in cash.
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