Tommy Hartono 吕恩豪

Tag: Back to back letter of credit

  • Day 22: Back to back Letter of Credit

    Day 22: Back to back Letter of Credit

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    by

    Tommy Hartono
    in

    #QuickBiteCompliance Day 22 What is Back-to-Back Letters of Credit? A form of financing in which Bank A issues a letter of credit as collateral to Bank B in order to issue a separate letter of credit to the beneficiary. This often happens when the underlying agreement between the applicant and beneficiary contains restrictions about the…