Letters of Credit
|Unit 4.5-Letters of Credit|
Unit 4.5-Letters of Credit
An international manager needs to be able to understand the different types of letters of credit available for use in international transactions along with the risks, costs and benefits of each. The international manager must be able to communicate these opportunities to their accounting/finance department and often to their customers. The use of these types of letters of credit may be critical in meeting both the business and collection goals of an organization.
Correlation: Materials from this unit correlate with NASBITE CGCP's Knowledge Statement 04/04/05: Knowledge of types of letters of credit (e.g., confirmed/unconfirmed, irrevocable, transferable, standby, with a time draft)