Follow us on: social
Toll Free:
get your paper now
Order your paper
Get a free quote
Customer's login
most popular orders
Analysis Essays
Classification Essays
Description Essays
Economics Essays
Education Essays
Ethics Essays
History Essays
Personal Experience Essays
Political Essays
Research Essays


← Political Economy and Competitiveness in the Global EconomyParties Which never Benefited from the Industrial Growth →
Live Chat

A Letter Of Credit, Bill of Exchange and Ex-Im Bank uk

Buy custom A Letter Of Credit, Bill of Exchange and Ex-Im Bank essay uk

A letter of credit is a document used by financial institution in trading and provides an irreversible payment. A letter of credit is mostly used in international trading and acts as a mode of payment when exporting or importing goods and services. An importer in one country can exchange a commercial letter of credit with goods and services from an exporter in another country. The holder of the letter of credit is the one entailed to payment. Once the document is issued then the payment cannot be reversed unless all the parties involved agree on the changes. For payments to be done the holder must provide the following documents a document to show that the goods traded were insured, commercial invoice and bill of lading. (Warner, 2009)

A bill of exchange is a financial document that orders the person or business named on the document to make specified payments to the payee from the drawee which always a financial institution like a bank.  The drawer of the bill of exchange must sign on the document. The bill of exchange can be endorsed to the third party by the payee and the third part is also free to endorse to other parties. The last party has a right to receive payment from the drawee without any restrictions. (Musgrove, 1929)

The export import bank of the United States acts as an export credit agency for the United States government. It enables the United States government to import goods from other currents through financing and also insuring the imports especially if the foreign customers do no accept credit transactions. The bank also funds exports traded by the United States. The bank is restricted from competing with the private sector instead it should fund transactions that traders are not willing or have no financial ability to undertake due to the risks involved in the trade. I support the existence of the bank because it is one of the chief supporters of the United States economy. It does this by facilitating efficient import and export of products in the United States and also sustaining employment through provision of insurance, loans and guarantees to traders. (Becke & McClenahan, 2003)

Buy custom A Letter Of Credit, Bill of Exchange and Ex-Im Bank essay uk

Order Now

Related essays

  1. Parties Which never Benefited from the Industrial Growth
  2. Aspects Of Finance: Microfinance in Developing Countries
  3. Political Economy and Competitiveness in the Global Economy
  4. Comments on Presentation
why we are #1
16+ years experience at the
custom writing market
Returning customers
A large number of services
Privacy Guaranteed
Skilled team of experienced writers
3-hour delivery
Free revision (within 2 days)
Communication with assigned writer
Free reference and cover page
current status
9 phone and live chat
representatives are constantly online
More than 925 writers currently at work
More than 15000 writers registered in our database
5 new writers pass our language tests next week
More than 16898 pages written over the past 5 years
5281191 words written for our clients
92% of customers are happy with our services
We score 9 out of 10 on quality
price calculation
Type of assignment:
Writer level:
Number of pages:
Cost per page: ...
Total without discount: ...
Goog Advice
Research Paper Ideas
Student's Life
Writing Assistance
Writing Help
Writing Term Paper
Qualities that Make a Great Leader
How to Derive the Most Usefulness out of Essay Phrases
Essays about Positive Stereotypes
6 Mistakes to Mind While Editing Your Paper
Aptitude Tests Issue

15% off your first custom essay order. Order now

from £12.06/PAGE