Import and export companies use letters of credit as a safe form of payment when goods are sold between countries. With a regular letter of credit, the seller can request and receive payment ...

In the world of buying and selling, which encompasses just about any kind of commerce, a letter of credit is an important financial tool. Specifically, a letter of credit is a letter from a bank ...

This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Blockchain technology will simplify and expediate the inefficient ...

LC Lite says it is using blockchain technology to simplify and speed up transactions requiring letters of credit. The platform is being launched by the founders of invoice financing platform Incomlend ...

Bangladesh Bank will take punitive measures against those involved in the respective bank if payments are not made on time after opening a letter of credit, or LC. The directive came a day after ...

Recently there have been growing concerns about trade finance fraud from banks perspectives all over the world. This issue is becoming more confusing in light of the fact that the Uniform Customs and ...

Despite an improved supply of foreign exchange, Nigeria’s fulfilment of Letter of Credit payments plummeted by 33.28 per cent in the 12 months of 2024 compared to the same period in the previous year.