ENTREPRENEURIAL OPERATIONS
SUPPLY CHAIN MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Revocable Credit
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Stand by Credit
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Transferable Credit
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Red Clause Credit
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Revolving Credit
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Detailed explanation-1: -Irrevocable (and Revocable) It is an undertaking that guarantees the bank’s issued payment for any services or goods purchased. Silent Confirmation. Confirmed. Red & Green Clause. Revolving. Transferable. Standby Letter of Credit. Back-to-Back. 01-Jun-2021
Detailed explanation-2: -A Documentary Credit (“D/C”) also known as Letter of Credit (“L/C”) is a method of payment where the buyer’s bank guarantees payment to the seller with the condition that the seller has to fulfil the terms specified in the L/C.
Detailed explanation-3: -Types of letters of credit include commercial letters of credit, standby letters of credit, and revocable letters of credit. Other types of letters of credit are irrevocable letters of credit, revolving letters of credit, and red clause letters of credit.
Detailed explanation-4: -Irrevocable LC. This LC cannot be cancelled or modified without consent of the beneficiary (Seller). Revocable LC. Stand-by LC. Confirmed LC. Unconfirmed LC. Transferable LC. Back-to-Back LC. Payment at Sight LC. More items