What is the purpose of a letter of credit?

Answer Every financial transaction has a buyer and a seller. A letter of credit is a document that guarantees that the seller in a given transaction will get paid. Banks and other institutions issue lette... Read More »

Top Q&A For: What is the purpose of a letter of credit

Difference Between a Letter of Credit & a Standby Letter of Credit?

A letter of credit and a standby letter of credit are similar services offered by banks to aid financial transactions between buyers and sellers. The bank issuing either of these letters guarantee... Read More »

What is the purpose of writing a business letter?

A business letter is a formal letter corresponding with other parties in regard to a particular concern or objective. There are many different types of letters, because every individual business ha... Read More »

What Is the Purpose of a Personal Business Letter?

A personal business letter is from an individual on behalf of himself versus an individual on behalf of a company. It is not sent on letterhead and is usually less formal than a traditional busines... Read More »

What is the purpose of a credit card?

Credit cards provide consumers with a way to pay for goods and services. Credit cards serve many purposes, such as building credit, using for emergency situations, Internet purchases, and to earn r... Read More »