A letter of credit is a written promise by a bank to pay for goods a buyer purchases from a seller. LC Discounting is a way a seller gets paid immediately even if the buyer wants a longer term for payment. The financial option to discount a letter of credit is a strategy that businesses will sometime use as a means of generating cash today for a letter of credit that is slated to be honored at some point in the future. Essentially, the approach used to discount a letter of credit is similar to factoring an invoice, in that the seller who is awaiting payment for goods that have been shipped and received by the buyer can approach his or her bank to receive an advance of funds that is near the total worth of that letter of credit (LC). This allows the seller to enjoy the proceeds from the purchase now rather than later, using the money for whatever purpose is needed.Summary:
At NumeroUno we believe that in this ever-changing world of International Trade, it is imperative for every organization to ensure that their treasured possessions – their Human Resources, remain completely updated with the latest developments in the world of Trade…Whether it pertains to Trade Products, Documentation pertaining to the transactions, Rules & Regulations within India and overseas... We train you on anything you want to know on Trade.
About NumeroUno
NumeroUno is a leading organization based out of Thane, Maharashtra, offering brilliant training and advisory services. Combining our rich expertise in the training and advisory services, and insightful skills of our trainers, we provide:
• Standby letter of credit.
• LC Discounting (Letter Of Credit).
• SBLC Discounting.
• Forfaiting.
• FEMA Act
Further, our portfolio also includes training and advisory services in discrepancy management and International Trade among others.
• EXIM Training
• Export and Import Training
• Banking Training
• Corporate Training
Custom training and advisory solutions
Driven by our passion to enable clients in meeting their training challenges, we also offer custom training solutions, absolutely fitting the needs and challenges of the clients be it a SME from retail sector or a giant size company from banking sector.
NumeroUno Contacts:
Corporate Office:
No. 109/1B, Varun Arcade, 1st Floor,
Nr. Laukim Industries, Opp. R-Mall,
Ghodbunder Road, Thane (W) 400 610
Maharashtra, INDIA
Call Us: +91 22 2589 2955
Website: http://www.numerouno.net.in/letter1.html
Email: info@numerouno.net.in
Branch Office:
Ahmedabad
No.65, Alpha Bazaar,
Venus Atlantis,
Prahlad Nagar,
Near S. G. Highway,
Ahmedabad 380 015
Gujarat
Author Bio: - Komal Shah - Web Analysts, I am one of the partners of NumeroUno Business Management Team having two decades of experience in Business Development Management.