What is a Letter of Credit? LC meaning & process are explained in Hindi. A letter of credit is used in importexport business or international trade when Buyer and Seller cannot trust each other. Signup to our new app for discounts and early access: ✔ https://assetyogi.com/signup/'>https://assetyogi.com/signup/


Time Stamps

00:00 Introduction
01:51 What is a Letter of Credit?
01:98 Process of Letter of Credit
08:05 Collateral and Charges
08:30 Fundamental concept of International Trade
05:52 Correctness of Letter of Credit
10:56 Advantages of Letter of Credit

Other related videos:
Types of Letter of Credit (LC)    • Types of Letter of Credit (LC)  Hindi  
Bank Guarantee    • Bank Guarantee  Explained in Hindi  
Incoterms    • Incoterms  Explained in Hindi  
Bill of Lading    • Bill of Lading  Explained in Hindi  
Types of Bill of Lading    • Types of Bill of Lading  Hindi  

Issuing or Opening Bank, Advising Bank, and Negotiating Bank are involved in the transaction.

The seller gets his money once he ships the goods and presents the Bill of Lading to the negotiating bank. International trade is governed by Incoterms and UCP (Uniform Customs and Practice for Documentary Credits) guidelines issued by the International Chambers of Commerce.

बैंक गारंटी क्या है? बैंक गारंटी के कई प्रकार परफॉरमेंस गारंटी, फाइनेंसियल गारंटी, अग्रिम भुगतान गारंटी, बिड बांड या अर्नेस्ट मनी डिपॉज़िट (EMD), फॉरेन बैंक गारंटी, डैफर्ड पेमेंट गारंटी आदि होते हैं। बैंक गारंटी और इसके प्रकारों को इस वीडियो में हिंदी में समझाया गया।

बैंक गारंटी लेटर ऑफ़ क्रेडिट से अलग होती है। हालांकि दोनों ट्रेड फाइनेंस या ट्रेडिंग फाइनेंस में उपयोग की जाने वाली नॉनफण्ड बेस्ड क्रेडिट फैसिलिटीज़ हैं, लेकिन दोनों ही अलगअलग वित्तीय साधन हैं। आपको कोलैटरल के साथ बैंक गारंटी शुल्क का भुगतान भी करना होता है।

बिड बांड या अर्नेस्ट मनी डिपॉज़िट (EMD) जमा करते समय बैंक गारंटी का उपयोग बिडिंग और ट्रेडिंग में भी किया जाता है।

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In this video, we have explained:
What is a letter of credit?
How does the concept of the letter of credit work?
What is the meaning of LC or a letter of credit?
What is the process for the letter of credit?
How does a letter of credit work?
How letter of credit is different from a bank guarantee?
How letter of credit is used in importexport business or international trade?
How many types of letters of credit are used in trade business?
How credit facility is used or arranged for international trade business?
How letter of credit helps to build trust in international trade when Buyer and Seller cannot trust each other?
How issuing or opening bank, advising bank and negotiating bank are involved in the process of the letter of credit?
What is the use of the bill of lading while using the letter of credit for import and export?
What is the process of opening LC?
What is the role of confirming bank in the letter of credit?
Why a collateral is important for issuing a letter of credit?
What are the advantages and of the letter of credit for sellers?
What are the advantages and of the letter of credit for buyers?

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Hope you liked this video in Hindi on “Bank Guarantee”.