A letter of credit, or LC, is a contractual agreement used as a credit instrument in international trade to ensure payment for products that are shipped. The LC usually is requested by an exporter ...

A virtual card number is linked to your credit card account, and is a unique set of 16 numbers, CVV and expiration date that’s instantly generated for one-time use. You can then use the virtual ...

For businesses that export or import, letters of credit are the financial security of international trade. A letter of credit allows an importer to make sure that an order is filled and shipped ...

Each credit card number is strategically coded and must follow an international standard, which means these digits aren’t so random after all. A credit card number, typically 16-digits long ...

Enter a standby letter of credit (SLOC). This document, provided by a bank, guarantees that a sale or project will be completed as promised. The backing bank will only pay out in the event of a ...

A transferable letter of credit is a letter of credit that allows the first beneficiary to transfer some or all of the credit to another party, creating a secondary beneficiary. The party that ...

Nigeria’s foreign trade payments through Letter of Credit (LC) fell by 146.5 percent year-on-year (YoY) to $434.05 million in the first nine months of 2024 (9M’24) from $1.07 billion in the ...

According to Mould, the letters that requested the establishment of letters of credit (LCs ... his extensive experience in Trade Finance and LC establishment from his tenure at the Union Bank ...