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What are the types of documentary credits ?

Banking Import
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Question added by MOSTAFA ABDEL FATAH IBRAHIM , Financial Accountant , Dar El Salam For Manufacturing And Importing
Date Posted: 2014/10/11
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Alok Urs
by Alok Urs , QATAR. Manager - HR & Project Admin , Kuwait Network Electronic Co W.L.L

Types of documentary credits available

1) Sight Payment credits- Unconfirmed & Confirmed Sight credits

2) Acceptance credit

3) Deferred pyament credits

4)Negotiation credits

5) Documentary credit in transit trade- Transferable credit transfer, back to back credits, assignments of proceeds credits.

6) Revocable & Irrevocable credits

7) Comeercial credits 

 

Some banks offer special type credits

1) Standby Letter of credit- specially used in US

2) Revolving credits

3) Red / Green Clause credits - Specially in import export area.

 

Most of them fall under Import & Export business, where1st party, Middleman, thirdparty (Bank) involved

MOSTAFA ABDEL FATAH IBRAHIM
by MOSTAFA ABDEL FATAH IBRAHIM , Financial Accountant , Dar El Salam For Manufacturing And Importing

good answer Mr Alok

thank you

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