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Banking Transactions terms

Trade Associations
Textiles and Textile Articles
From Pakistan
To Canada
175 views / 0 experts
Rayyan Z.
May 07, 2021

What commercial terms are used for banking transactions?

1 answer

Stephanie D.
May 07, 2021

The following terms are normally used in obtaining payments against exports:

LC (Letter of Credit)

  • Sight L/C
  • Acceptance L/C
  • Cash L/C
  • Irrevocable L/C
  • Confirmed L/C
  • Non-Transferable L/C
  • Restricted L/C

Documents Against Payment

Documents Against Acceptance

  • D/P Terms
  • D/A Terms
  • Usance Bill
  • Trust receipt Function
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