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How to understand credit and bills of exchange

Answers:1   |   LastAnswerAt:2011.05  

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Reb Brown 
Asked at 2011.05.10 21:04:00
How to understand credit and bills of exchange Hello everybody, I trade new, not previously come into contact with letters of credit and the like, are now online self-study, a little bit of doubt, letters of credit and bills of exchange are the way to do foreign trade settlement, the two are parallel, was said in the letter of credit, they also have to drafts, to the time when presented for negotiation with this bill also prompted the bank, or different, respectively, can be used alone, please feel free to enlighten me there is one, is the proposed bank discounted with the bank to pay the difference, negotiation is to the credit of the documents to the bank after the bank had no problem if the trial is willing to provide financing to exporters if the facility, and then discount is the bearer endorsing the bill to the bank , the bank also gave out Xianba Qian, both essentially the same as you
answer Adolf Pike  Answered at 2011.05.10 21:04:00
Certainly not the same nature, drafts and letters of credit or independent affiliation.
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