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Letter of Credit (LC) - Explained in Hindi
 
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What is Letter of Credit? LC meaning & process explained in hindi. Letter of credit is used in import export business or international trade when Buyer and Seller cannot trust each other. Other related videos: Types of Letter of Credit (LC) - https://youtu.be/eOi2D1bGdD4 Bank Guarantee - https://youtu.be/GWtBvqYYXbI Incoterms - https://youtu.be/GG2Ea4UvyrY Bill of Lading - https://youtu.be/xZd76YxHDrg Types of Bill of Lading - https://youtu.be/lfXgILdOHlE Issuing or Opening Bank, Advising Bank and Negotiating Bank are involved in the transaction. Seller gets his money once he ships the goods and presents 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 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 नॉन-फण्ड बेस्ड क्रेडिट फैसिलिटीज़ हैं, लेकिन दोनों ही अलग-अलग 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। Share this Video: https://youtu.be/0UiLLhNhBiI Subscribe To Our Channel and Get More Property and Real Estate Tips: https://www.youtube.com/channel/UCsNxHPbaCWL1tKw2hxGQD6g If you want to become an Expert Real Estate investor, please visit our website https://assetyogi.com now and Subscribe to our newsletter. In this video, we have explained: What is a letter of credit? How the concept of the letter of credit works? What is the meaning of LC or letter of credit? What is the process of the letter of credit? How does letter of credit works? How letter of credit is different from bank guarantee? How letter of credit is used in import-export business or international trade? How many types of letter 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? Make sure to Like and Share this video. Other Great Resources AssetYogi – http://assetyogi.com/ Follow Us: Facebook – https://www.facebook.com/assetyogi Twitter - http://twitter.com/assetyogi Instagram - http://instagram.com/assetyogi Linkedin - http://www.linkedin.com/company/asset-yogi Pinterest - http://pinterest.com/assetyogi/ Google Plus – https://plus.google.com/+assetyogi-ay Hope you liked this video in Hindi on “Bank Guarantee”.
Views: 268834 Asset Yogi
Forex LC - Letter of Credit | CA Final SFM (New Syllabus) Classes & Video Lectures
 
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We simplify your financial learnings. ►►Subscribe here to learn more of Strategic Financial Management: https://goo.gl/HTY5SN Find us on Facebook: https://www.facebook.com/SFM-Guru-1862953747049133/ Read more on our website: http://sfmguru.in/ The video talks about various concept of International Finance a chapter in Strategic Financial Management. This video is suitable for anyone who is interested in learning the concepts of Letter of Credit (LC). The video is in Hindi; and suitable for anyone who wants to understand the above concepts in this language. ►►About CA Nikihl Jobanputra: CA Nikhil Jobanputra is an Energetic, Hard Working professor. Apart from completing his CA successfully he also possesses degree in CMA and CIMA plus Advance Diploma in MA. He realized his penchant for teaching in 2003, when he started his first institute, Pragati, post that there was no stopping him and the journey still continues as a Founder Faculty of Incito Academy. This teaching experience makes him one of the top faculty in this industry.
Views: 2262 CA Nikhil Jobanputra
Letters of Credit - What is a Letter of Credit (Trade Finance Global LC Guide)
 
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Visit https://www.tradefinanceglobal.com/letters-of-credit/ for the TFG Letter of Credit Guide A Letter of Credit is relevant where there is an exporter and an importer; and there needs to be prepayment or a confirmation of payment in order for goods to be shipped. A letter of credit is an instrument from a bank, which guarantees a buyer's payment to a seller if certain criteria are met. If the buyer can’t pay up, due to the agreed contract through the Letter of Credit, the bank will cover the remaining price. Letters of Credit are fundamental components of international trade. They’re governed universally by a set of guidelines called the UCP 600, which are issued by the International Chamber of Commerce. An LC is a promise written on a legal document that comes from a bank with a promise to pay the holder if the holder fulfills certain obligations. Obligations include payment when the goods are shipped if certain criteria are met. A Letter of Credit is usually used when the buyer and seller do not know each other well and this is why it is used so frequently in international trade. Letters of Credit are incredibly specific and a close attention to detail is required. If there is a misspelling in the contract, for example, the name of the goods is incorrectly spelt, there may be non-payment until a new, corrected LC is issued and accepted.
Views: 79850 Trade Finance Global
Letter of Credit | LC |  Full Process & Basics
 
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Letter of Credit full process and Basics. How Letter of Credit works in Real. Letter of Credit parties, Letter of Credit payment and Letter of Credit dispatch of goods. Letter of Credit (LC) is also known as Documentary Credit and it is the part of Trade Finance.
Views: 55959 The Known India
Negotiation Letter of Credit | What Makes A Negotiation LC Negotiable
 
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This video explains what makes a Negotiation LC negotiable. To get FREE presentation slides on Sight Payment, Methods of Trade Settlement & Negotiation, please send your request to me at: [email protected] To download Letter of Credit: Checklists And Guidelines, please send request to: [email protected]
Views: 14674 zelot
Letter of Credit
 
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Install our android app CARAJACLASSES to view lectures direct in your mobile - https://bit.ly/2S1oPM6 Join my Whatsapp Broadcast / Group to receive daily lectures on similar topics through this Whatsapp direct link https://wa.me/917736022001 by simply messaging YOUTUBE LECTURES Did you liked this video lecture? Then please check out the complete course related to this lecture, Banking Credit Analysis Process with 240+ Lectures, 17+ hours content available at discounted price (10% off)with life time validity and certificate of completion. Enrollment Link For Students Outside India: https://bit.ly/2wcpBMk Enrollment Link For Students From India: https://www.instamojo.com/caraja/banking-credit-analysis-process/?discount=inybcap68 Our website link : https://www.carajaclasses.com ---------------------------------------------------------------------------------------------------------------- BEST FOR CREDIT ANALYSIS THIS IS BEST LECTURE EXPLAINED IN SIMPLE METHOD WITH EXAMPLES FOR CREDIT PROFESSIONAL.Also it would def help on the job purpose as well.Would def recommend ------------------------------------------------------------------------------------------------------------------ Credit Analysis is the core process adopted by any Bank to understand, evaluate and appreciate about the Customers Identity, Integrity, Financial Position, - Repayment Capacity, Etc. Every Banker should be through with Credit Analysis Process because day in day out they have to deal with new customers and before sanctioning any new loans to them, Banker should have made detailed study of their customers. No Banker can raise to top unless he becomes conversant with Credit Analysis Process. Bank would generally throw employees on to the job before they get opportunity to be trained. This is with more specific reference to Credit Analysis where Bankers should under detailed learning process, else their mistakes in the process will be Very Costly beyond their manageable Position. Hence, this course will provide platform to Bankers to have fall back reference on the Critical Aspects of Credit Analysis Process, Banking/ Management Consultants can also use this course for the equipping themselves to the expectations of the Bankers while handling Credit Proposals. This Course has been Structured in self paced Learning Style. Learners can Learn Credit Analysis process at their own time, Convenience and place. Materials used in this Course will enable the participants to understand credit Analysis Process with almost Clarity. • Category: Business What's in the Course? 1. Over 171 lectures and 11 hours of content! 2. By taking this Course you will Understand, What is Credit Analysis 3. By taking this Course you will Understand, What is Working Capital Cycle 4. By taking this Course you will Understand, What is Project Financing 5. By taking this Course you will Understand, Detailed Process of Credit Analysis Course Requirements: 1. No prior knowledge is required for taking this course. 2. Students need PC / Laptop / Tab / Mobile (supporting Android / iOS) to view this course Who Should Attend? 1. Bankers 2. Consultants(Management/Banking/Finance) 3. Finance Managers 4. Entrepreneurs looking for Raising Funds 5. Department Heads 6. Chartered Accountants
Views: 2074 CARAJACLASSES
Distinction and Similarities between Letter of Credit and Bank Guarantees
 
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This video explains the difference and similarities between LC and BG which issued by banks
Views: 12837 Ns Toor
LC-Letter of Credit
 
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This video from N S Toor School of Banking (Chandigarh-India) explains in brief the concept of Letter of credit. For detailed information with case studies, please log in www.bankingindiaupdate.com or call 91 172 2665623
Views: 274909 Ns Toor
Documents Against Acceptance & Documents Against Payment - Bills of Exchange (Hindi)
 
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Documents Against Acceptance (D/A Bill) and Documents Against Payment (D/P Bill) Bills of Exchange explained in hindi. International trade i.e. Import Export Business may involve payment through letter of credit or documentary bills. Related Videos: Letter of Credit - https://youtu.be/0UiLLhNhBiI Bill of Lading - https://youtu.be/xZd76YxHDrg Incoterms - https://youtu.be/GG2Ea4UvyrY Bill of Exchange - https://youtu.be/qcpkS1tpsFk Types of Bills of Exchange - https://youtu.be/vDCoDg2o-yk डाक्यूमेंट्स अगेंस्ट एक्सेप्टेन्स (D/A Bill) और डाक्यूमेंट्स अगेंस्ट पेमेंट (D/P Bill) बिल्स ऑफ़ एक्सचेंज को इस वीडियो में हिंदी में समझाया गया है। इंटरनेशनल ट्रेड व्यापार यानी आयात निर्यात व्यापार में क्रेडिट या दस्तावेजी बिल के माध्यम से पेमेंट शामिल हो सकता है। Share this Video: https://youtu.be/A8nnQIP7xiE Subscribe To Our Channel and Get More Property and Real Estate Tips: https://www.youtube.com/channel/UCsNxHPbaCWL1tKw2hxGQD6g If you want to become an Expert Real Estate investor, please visit our website https://assetyogi.com now and Subscribe to our newsletter. In this video, we have explained: How payments are done in international trade? What is documentary collection payment method? What is documents against acceptance? How documents against acceptance is used in international trade? What is documents against payment? How documents against payment is used in import-export? What is the process of documents against acceptance and documents against payment? How bill of exchange, bill of lading, and the documentary bill is used in international trade? What is the process of documentary collection payment method? How documents against acceptance is different from documents against payment? What is the difference between D/A Bill and D/P Bill? Make sure to Like and Share this video. Other Great Resources AssetYogi – http://assetyogi.com/ Follow Us: Pinterest - http://pinterest.com/assetyogi/ Instagram - http://instagram.com/assetyogi Twitter - http://twitter.com/assetyogi Facebook – https://www.facebook.com/assetyogi Google Plus – https://plus.google.com/+assetyogi-ay Linkedin - http://www.linkedin.com/company/asset-yogi Hope you liked this video in Hindi on “Documents Against Acceptance & Documents Against Payment”.
Views: 25700 Asset Yogi
HOW IS LETTER OF CREDIT SEND BY THE ISSUING BANK BY SWIFT?
 
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HOW IS LETTER OF CREDIT SEND BY THE ISSUING BANK BY SWIFT? Story - By Amlan ----Contribution's by Runold Fernandes . I am wanting to buy coke bottles from Coa Cola USA .....so evidently , i am the buyer Alway's remember that the receive of the payment (seller ) is termed the beneficiary .....so here Coca Cola USA is the benefeciary .... Let's also understand what is a letter of credit ....it is credit ( payment offered ) against documents and so also called documentary credit .... amechanism wherein the seller of the goods is assured of his payment because the buyer's bank take's guarantee to make the payment ...the seller is not concerned whether the buyer goes bankrupt or not So , in this case my bank is SBI , Cuffe parade ....this is called the issuing bank ....say , i want to buy 100 crates Coke bottles worth 10 million dollars .....i go and ask the bank to open a letter of credit (the process is called issuing letter of credit ) favoring the bebenficiary and the beneficiary bank as follows Beneficiary - Coca Cola Ltd Beneciary Bank - Citi Bank -Los Angeles Coca Cola Lts had already intimated me that he bank he desires for his payment to be credited shall be Citi Bank (Los Angeles )..... Case 1 - In present arrangement , SBI Cuffe parade is the issuing bank , Citi Bank Los anageles is the Bneficiary bank Once the LC is opened , SBI sends across the letter of credit to the advising bank which then advises Coca Cola that the LC has come and asks for the documents Say , Coca Cola ships the Material on 16Th May ....he gets the bill of lading and collects all the other documents like the invoice , ciountry of origin , Test certificate , inspection certicate ads mentioned in the LC and makes a presentation of the documents to the advising bank ( not neccesary that documents are to be submitted to the advising bank ) The bank ( in this case ----Citi Bank checkls the documents ...if it finds any discrepancy , it lets know to the seller( Coca Cola ) of the discrepancy ...say test certificate was missing , it lets Coca cola know of the same ...Coca cola then furnishes the remaining document...once the advising bank is satisfied that all documents are in order , it sends the documents to the issuing bank (SBI , cuffe parade ) If SBI , cuffe parade also finds that the docs are in order , then since it has taken guarantee for payment , it will have to make payment for the issued LC i.e pay the advising bank 2000 $ against the docs collected It then contacts me (buyer ) that all the docs are with it and asks me to make payment and collect the documents ( Sometimes while issuing the letter of credit , the bank blocks that much fund from my account and when the docs arrive debits my account and sends across the documents ) Using the Bill of lading document) document, i go to the Mumbai port to get my shipment released upon subsequent payment of Import duty for the coke trenches That's it The basics are clear , Hope You enjoyed , Cheers , Amlan
Views: 3132 Make Knowledge Free
Letter of Credit | LC | Foreign Letter of Credit | FLC
 
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Letter of Credit | LC | also includes foreign letter of credit. How foreign Letter of credit functions? what is Negotiating, Reimbursing and Confirming Bank concept in letter of credit process. LC payment terms are tricky when you are dealing with foreign countries as law of land applies. Watch the in-depth practical approach to the concept of letter of credit.
Views: 13529 The Known India
letter of Credit | Lc | letter of credit meaning | letter of credit basics
 
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In this tutorial we explained about letter of credit procedure in hindi how does letter of credit work | letter of credit negotiation Letter of Credit | standby letter of credit An arrangement whereby a bank, acting at the request of a customer, undertakes to pay a third party by a given date according to agreed stipulation and against presentation of documents, the counter–value of goods or services dispatched / supplied, rendered or otherwise or Documentary Credits like a “Letter of Credit” or “L/C” is the most preferred form of payment for goods in international trade as it solves issues of mutual mistrust by using banks as arbiters For More such videos Please subscribe our channel click https://goo.gl/yNw13g You can follow us on facebook click https://goo.gl/i5AieP Related videos Link How to Buy Share Onlie https://youtu.be/g8Eb1LVNXM0 What is Cnadle stick https://youtu.be/-Sjhv7h3IT8 Thanks for watching this video. What is forex trading https://youtu.be/9q3oJN1zqYg What is Future and options https://youtu.be/A9FNzW-Zgdc What is candlestick Chart https://youtu.be/-Sjhv7h3IT8
Views: 59437 Fin Baba
What is Red Clause Letter of Credit ?
 
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This video explains the features of a Red Clause LC
Views: 23853 Ns Toor
Letter Of Credit in Hindi Jaiib Bank Promotion foreign exchange banking awareness in hindi
 
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Letter Of Credit is an instrument used in foreign trade.Following Banks are involved Issuing Bank,Advising Bank,Negotiating Bank,Confirming Bank,Reimbursing Bank,Bill of Lading means Shipment Documents getting after shipment of goods at exporter place to importer place
Letter of Credit in Hindi - How does a Letter of Credit Work?
 
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Learn everything about Letter of Credit in Hindi video by accounts guru, Vishwanath Gaur. It's a complete beginners guide to what Letter of Credit is. Follow us on Facebook - https://www.facebook.com/finnocode/ Our Website - http://finnocode.com/
Views: 5107 Finnocode Accounts
Types of Letter of Credit (LC) - Hindi
 
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Types of Letter of Credit explained in hindi. Irrevocable LC, Standby, Back to Back Letter of Credit, Transferable LC, Revolving, Confirmed LC, Red Clause & Green Clause Letter of Credit, Sight LC, Usance LC, Deferred Payment Letter of Credit, Commercial of Import Export LC are all types of LC. Related Video: Letter of Credit process - https://youtu.be/0UiLLhNhBiI इस वीडियो में लेटर ऑफ़ क्रेडिट के विभिन्न प्रकारों के बारे में समझाया गया है। इररेवोकाबले LC, स्टैंडबाई, बैक टू बैक लेटर ऑफ़ क्रेडिट, ट्रांस्फ़ेरेबल LC, रिवॉल्विंग, कनफर्म्ड LC, रेड क्लॉज़ & ग्रीन क्लॉज़ लेटर ऑफ़ क्रेडिट, Sight LC, Usance LC, डैफर्ड पेमेंट लेटर ऑफ़ क्रेडिट, कमर्शियल ऑफ़ इम्पोर्ट एक्सपोर्ट LC आदि सभी लेटर ऑफ़ क्रेडिट के कई प्रकार होते हैं। Share this Video: https://youtu.be/eOi2D1bGdD4 Subscribe To Our Channel and Get More Property and Real Estate Tips: https://www.youtube.com/channel/UCsNxHPbaCWL1tKw2hxGQD6g If you want to become an Expert Real Estate investor, please visit our website https://assetyogi.com now and Subscribe to our newsletter. In this video, we have explained: What are the letter of credit types? How many types of letter of credit are there? What is Irrevocable letter of credit? What is standby letter of credit type? What are transferable LC and how they are used? What are back to back letter of credit and how they work? What is revolving LC and confirmed type of letter of credit? What is red clause letter of credit and how it works? What is green clause letter of credit and when it is used? How green clause LC is different from red clause LC? How sight and usance type of letter of credit are used? What is a deferred payment letter of credit and how it works? What are the uses of different types of letter of credit? What are the difference between all the different types of letter of credit? Make sure to Like and Share this video. Other Great Resources AssetYogi – http://assetyogi.com/ Follow Us: Twitter - http://twitter.com/assetyogi Instagram - http://instagram.com/assetyogi Linkedin - http://www.linkedin.com/company/asset-yogi Pinterest - http://pinterest.com/assetyogi/ Google Plus – https://plus.google.com/+assetyogi-ay Facebook – https://www.facebook.com/assetyogi Hope you liked this video in Hindi on “Types of Letter of Credit”.
Views: 124042 Asset Yogi
Methods of Payment in International Trade for Export & Import (2018)
 
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4 Methods of Payment used in International Trade are Open Account, Advance Payment, Documentary Collection & Documentary Credit Equipment Used : Laptop : https://amzn.to/2vfT0Yy Microphone Stand : https://amzn.to/2H0bzli Microphone : https://amzn.to/2IT3ob0 Audio Interface : https://amzn.to/2GTAcjn Earphones : https://amzn.to/2JGbipd Camera Stand : https://amzn.to/2JEHOIt Camera : https://amzn.to/2GVE4Ak Screen Prompt : https://amzn.to/2GVfhAF For Importers that want to know How to Import and for Exporters that want to know How to Export, it is important to understand what are the methods of payment in International Trade. Also, this video walks you through the movement of 3 items between the Exporter and Importer in International Trade. From the Exporter to Importer, there are movement of goods and shipping documents. From the Importer to Exporter, there are movement of money. From these 3 movements of goods, shipping documents and money, there are 4 methods of payment which are o Open account o Advance payment o Documentary Collection o Documentary Credit The video talks about when the goods are available to the Importer, the timing of the payment & the risks to the Importer under the different method of payment. If the Exporter & Importer are new to each other and there is no trust between both parties, they need the bank to come into the picture and for this the bank had invented o Documentary Collection Method - Sight(D/P- Documents Against Payment) & Usance (D/A-Documents Against Acceptance) o Documentary Credit Method This video is designed to provide those operating within International Trade : Exporters, Importers, Bankers & Insurers, Freight forwarders and Carriers an opportunity to broaden their understanding of methods of payment in International Trade. -- ► Subscribe to my Channel https://www.youtube.com/c/TradelinksResources ► Follow My Website: https://tradelinks.com.my/ -- This video was produced by 1. Mr. Billy Fong Goon Poy, ACIB, MITD, Master Trainer 2. Ms Sook Ling, Online Content Creator Tradelinks Resources conducts public training programs for the following International Trade courses in Malaysia 1. Incoterms 2010 2. Letters of Credit 3. Bills of Lading - Correct Preparation To Avoid Rejection by Banks
Views: 60434 Tradelinks Resources
Letter of credit
 
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A letter of credit is a document issued by a financial institution, or a similar party, assuring payment to a seller of goods or services provided certain documents have been presented to the bank. "Letters of Credit" are documents that prove the seller has performed the duties under an underlying contract (e.g., the sale of goods contract) and the goods (or services) have been supplied as agreed. In return for these documents, the beneficiary receives payment from the financial institution that issued the letter of credit. The letter of credit serves as a guarantee to the seller that it will be paid regardless of whether the buyer ultimately fails to pay. In this way, the risk that the buyer will fail to pay is transferred from the seller to the letter of credit's issuer. The letter of credit can also be used to ensure that all the agreed upon standards and quality of goods are met by the supplier, provided that these requirements are reflected in the documents described in the letter of credit. Letters of credit are used primarily in international trade for transactions between a supplier in one country and a customer in another. Most letters of credit are governed by rules promulgated by the International Chamber of Commerce known as Uniform Customs and Practice for Documentary Credits (UCP 600 being the latest version). They are also used in the land development process to ensure that approved public facilities (streets, sidewalks, storm water ponds, etc.) will be built. The parties to a letter of credit are the supplier, usually called the beneficiary, the issuing bank, of whom the buyer is a client, and sometimes an advising bank, of whom the beneficiary is a client. Almost all letters of credit are irrevocable, i.e., cannot be amended or canceled without the consent of the beneficiary, issuing bank, and confirming bank, if any. In executing a transaction, letters of credit incorporate functions common to giros and travelers' cheques. This video is targeted to blind users. Attribution: Article text available under CC-BY-SA Creative Commons image source in video
Views: 3612 Audiopedia
Using Letter of Credit for Export Payments
 
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In a previous video Niryat Bandhu explained to Nikkoo the various payment methods.One of which was Letter of Credit. Since LC method is an important method of payment we will explain them in more detail here. This video is developed by the Office of the Additional Director General of Foreign Trade, Bengaluru as part of an initiative under the Niryat Bandhu Scheme of Government of India. Disclaimer :: This video is for information and educational purposes only . For detailed procedure you should refer to the Foreign Trade policy and the Handbook of Procedures available on http://www.dgft.gov.in
Bill of Lading : Types of Bill of Lading & Bill of Lading Samples
 
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This video covers What is a Bill of Lading, The Types of Bill of Lading,Samples of Bill of Lading ------------ Methods of Payment in International Trade https://youtu.be/cIM5SdLI58g Bill of Lading Sample 1. Bill of Lading (Port to Port Shipment) 2. Multimodal Transport Shipment 3. Non-Negotiable Sea Waybill 4. Charter Party Bill of Lading http://tradelinks.com.my/bill-lading-samples/ -- Equipment Used : Laptop : https://amzn.to/2vfT0Yy Microphone Stand : https://amzn.to/2H0bzli Microphone : https://amzn.to/2IT3ob0 Audio Interface : https://amzn.to/2GTAcjn Earphones : https://amzn.to/2JGbipd Camera Stand : https://amzn.to/2JEHOIt Camera : https://amzn.to/2GVE4Ak Screen Prompt : https://amzn.to/2GVfhAF Once the contract is signed depending on the method of payment used. The Seller ultimately ships out the goods via the Shipping Agent. The Shipping Agent will then issue 2 sets of documents viz the Non-Negotiable Bill of Lading & Original Negotiable Bill of Lading. The Seller forwards the shipping documents & Bill of Lading to the Buyer. The Buyer forwarded the Bill of Lading to the Shipping Agent who issues the Delivery Order to the Port for the release of the goods. The Shipping Agent handed over the goods to the Buyer. So What is a Bill of Lading ? This video talks about the Bill of Lading definition according to 1907 Halsbury’s Laws of England Next, we will look at the function of the Bill of Lading 1. The bill of lading acts as a Receipt for Goods. 2. The bill of lading is an evidence of Contract of Carriage 3. The bill of lading is also a Document of Title to the Goods Questions addressed in this video includes 1. When a Bill of Lading is issued, normally in 3 original copies. So why is it that 3 Original Bill of Lading copies is being issued? 2. Who are the parties involved in the Bill of Lading? The parties covered are Carrier, Shipper, Consignee, Notify Party, Named Agent ,Master (Captain) . 3. Next, we look at to whom the Bill of Lading can be consigned to The UCP 600 outline the following types of sea transport 1. Bill of Lading (Port to Port Shipment) Article 20 UCP 600 2. Transport Document Covering at least Two Different Modes of Transport (Multi Modal Transport Document) Article 19 UCP 600 3. Non-Negotiable Sea Waybill Article 21 UCP 600 4. Charter Party Bill of Lading Article 22 UCP 600 Samples of Bill of Lading – Download the samples in the link below http://tradelinks.com.my/bill-lading-samples/ -------- ► Subscribe to my Channel https://www.youtube.com/c/TradelinksR... ► Follow My Website: https://tradelinks.com.my/ -------- This video was produced by 1. Mr. Billy Fong Goon Poy, ACIB, MITD, Master Trainer 2. Ms Sook Ling, Online Content Creator Tradelinks Resources conducts public training programs for the following International Trade courses in Malaysia 1. Incoterms 2010 2. Letters of Credit 3. Bills of Lading - Correct Preparation To Avoid Rejection by Banks
Views: 125604 Tradelinks Resources
Letter of Credit with Example Part-2 [in Hindi]
 
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Letter of credit of Bank Financial Management for CAIIB and JAIIB l letter of Credit | Lc | letter of credit meaning | letter of credit basics what is letter of credit, Letter of Credit - Banking Credit Analysis Process (for Bankers) LC-Letter of Credit Letter of credit in Hindi example of letter of credit, types of letter of credit, what is acceptance credit, what is time credit, what is bill discounting, discounting of bill, what is irrevocable credit, what is confirmed credit, what is revocable credit, what is with recourse and without recourse credit, what is back to back credit, what is anticipatory letter of credit, what is Red clause letter of credit, what is Green clause letter of credit, what is revolving letter of credit, To make it understandable, everything has been explained in Hindi. Link to our facebook group is following: https://www.facebook.com/groups/294833504254894/ Link to our Indemnities video is following: https://youtu.be/FzywyXJ169s link to our letter of credit part 1 video: https://youtu.be/P22Agb8_Dsw
Views: 7964 GrowYourself
Letter of Credit Tutorial | Presentation of Documents Under Payment-Sight LC
 
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http://www.learnonline2u.net Tutorial on Letter of Credits (LC) for students studying International Trade and Finance by H.W. Nawawi a former banker (Facilitator and lecturer). Tutorial 1 http://youtu.be/72Q5EzZwMBo Tutorial 2 http://youtu.be/GLA_VRtRttU
Views: 67930 zelot
Methods of Payment in International Trade (HINDI/URDU) - Import/Export International Payment Methods
 
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Methods of Payment in International Trade: In this video, we discussed methods of payment in international trade (Hindi/Urdu) -international payment methods(import-export), mode of payments in Import Export. Subscribe to our channel for more videos. http://www.pakistancustoms.net/2018/01/Methods-of-Payment-in-International-Trade-HINDI-URDU-International-Payment-Methods.html Mode of payments in Exports and Imports: The Major ways of making payment for export of goods are: 1. Advance payment Which is the best method of payment in an export trade? What type of terms of payment can I adopt an Export business? Under any kind of sales, obviously, advance payment is the best option for payment. Ok, now the terms of payments are concerned, you are very happy if you get payment in advance. Right? Yes, the 100% safe business in any business, especially in export business, is nothing but receiving the advance payment. However, in this present competitive world, you do not expect advance payment from the buyer in all cases unless your product attracts some specific reasons to pay you to advance payment by your buyer. 2. Letter of credit.( L.C.) Letter of credit is an assurance given by the buyer’s bank to remit the amount to the seller through seller’s bank on maturity, as per the terms and conditions of the document based on the contractual agreement between buyer and seller. Now in simple words, If LC opened on your name, you will receive amount through the buyer’s bank on the agreed time. There are various types of letters of credits like Revocable, Irrevocable, Confirmed, Unconfirmed, Clean & Documentary, Fixed, Revolving, Transferable, Back to Back etc. Most common and safe LC is Irrevocable Letter of Credit. I will explain in details about all types of LC in other videos. 3. DP basis - Documents against Payments: What is DP term of payment? How does DP term of payment work? DP OR DAP term of payment is one of the terms of payment in international trade. D.A.P or D/P terms of payment means, Documents Against Payment. Once cargo shipped out from supplier’s premises, after completing necessary export legal formalities of exporting country, he hands over goods to the carrier who transport to the final destination of a buyer. After delivery of goods, the exporter is issued Bill of Lading (undersea shipment) or Airway Bill (under air shipment) by Carrier or his agent. Exporter submits all required documents along with Bill of Lading /Airway bill, invoice, packing list, bill of exchange with the bank to send to the buyer through buyer’s bank. The seller’s bank, once after verification sends these shipping documents to the buyer through buyer’s bank. After receipt of such shipping documents by buyer’s bank notifies buyer on receipt of documents and advise to ‘accept’ the documents by effecting payment of export proceeds. Under a DP terms of payment (DAP terms of payment), the buyer collects original shipping documents from his bank after making necessary payment against the sale of goods. 4. D.A terms means Documents against Acceptance Payment terms ‘DA’ means Documents against Acceptance. As per D.A terms, once the shipping documents along with bills of exchange received by the buyer’s bank, the buyer is informed to accept documents from buyer’s bank. The buyer accepts documents by signing bills of exchange sent by the exporter, agreeing to pay the value of goods shipped as per agreed period of time. (say, 30 days from the date of bill of lading, 60 days from the date of bill of lading or 90 days from the date of bill of lading). Importer receives original shipping documents by ‘accepting’ bill of exchange. He completes import customs clearance procedures with the said original shipping documents and approach carrier to deliver cargo to him after completion of such import customs clearance. The payment against the sale of goods is effected upon the maturity day mentioned in the bill of exchange. Documents against Acceptance - Is it safe for the seller? In payment terms, is DA safe for an Exporter? Does importer make payment on maturity of the contracted period? How reliable DA terms in exports? As per my opinion, the legal strength on D.A terms is very weak in international legal terms. Ok, if you have a strong business relationship with your buyer, you can ship goods on ‘credit’ basis. A proper study of the buyer’s creditworthiness is a dare need while shipping under D.A.terms. Related Searches: Methods Of Payment In International Trade Export Payment Terms Terms Of Payment In International Trade Export Payment Methods Payment Methods In Export Import Trade Modes Of Payment In International Trade
Views: 24602 PakistanCustomsDotNet
Letter of Credit with Example Part-1 [in Hindi]
 
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Concepts of Letter of credit for Bank Financial Management for CAIIB. Module A International Banking : what is letter of credit, letter of Credit | Lc | letter of credit meaning | letter of credit basics what is letter of credit, Letter of Credit - Banking Credit Analysis Process (for Bankers) LC-Letter of Credit Letter of credit in Hindi example of letter of credit, what is issuing bank, what is advising bank, what is opening bank, what is importer's bank, what is negotiating bank, what is confirming bank, what is reimbursing bank ? To make it understandable, everything has been explained in Hindi. Link to our facebook group is following: https://www.facebook.com/groups/294833504254894/ Link to our Indemnities video is following: https://youtu.be/FzywyXJ169s
Views: 24329 GrowYourself
back to back letter of credit in Bangla. Letter of Credit. Documentary Letter of Credit
 
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Video Name: back to back letter of credit in Bangla. Letter of Credit. Documentary Letter of Credit back to back letter of credit Opened against Sales/Export LC's. The advising bank of the first letter of credit becomes the issuing bank of the second letter of credit. exporter/seller/beneficiary of master/export lc's apply to lien bank to open back to back letter of credit. back to back letter of credit issue against export/sales lc's. after getting export lc, exporter need to make goods for shipment. but exporter has no all raw materials to produce goods. that's why exporter collect raw material from various supplier by back to back letter of credit. advising back of export lc becomes issuing bank of back to back letter of credit. Please Like, Share & Subscribe our channel to get clear ideas for more commercial knowledge. our next video will coming soon........... i tutorial follow us: Facebook page : https://www.facebook.com/I-tutorial-1816848545310862/?ref=aymt_homepage_panel Google+ : https://plus.google.com/u/0/107998513185302963581 LinkedIn : https://www.linkedin.com/in/i-tutorial-760b46147/ Twitter: https://twitter.com/itutorialbd Share this Video Video Name: back to back letter of credit in Bangla. Letter of Credit. Documentary Letter of Credit use keyword: back to back letter of credit btb lc b2b lc back to back lc back to back letter of credit example letter of credit at sight revocable letter of credit negotiating bank bank sight at sight quick payment usance payable at sight revolving letter of credit payable at sight trade finance lc finance letter of credit cost documentary letter of credit credit expert tt payment lc payment process sblc types of letters bank guarantee standby letter of credit different types of credit irrevocable lc lc meaning lc payment meaning business loan line of credit letter of credit from bank buyer credit at sight letter of credit at sight letter of credit in bangla confirming bank confirming bank letter of credit
Views: 9545 i tutorial
Letter of Credit - Basic Concept
 
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Letter of Credit - Basic Concept
Views: 21600 QTimeVideos
All about Back to Back Letter of Credit
 
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This video explains the concept of Back to Back LC along with the conditions that required to be fulfilled.
Views: 16753 Ns Toor
Types Of Letter Of Credit- Irrevocable Letter Of Credit, Transferable Letter Of Credit, Stand By Etc
 
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Types of Letter Of Credit: In this video, I am going to share with you types of letter of credit- irrevocable letter of credit, transferable letter of credit, stand by Letter Of Credit etc. Subscribe to our channel for more videos. Watch: (https://www.youtube.com/watch?v=eWoyE7cDEiU) Types of Letter of Credit- Irrevocable letter of credit, transferable letter of credit etc... 1. Irrevocable LC. This LC cannot be canceled or modified without the consent of the beneficiary (Seller). This LC reflects absolute liability of the Bank (issuer) to the other party. 2. Revocable LC. This LC type can be canceled or modified by the Bank (issuer) at the customer's instructions without the prior agreement of the beneficiary (Seller). The Bank will not have any liabilities to the beneficiary after revocation of the LC. 3. Stand-by LC. This LC is closer to the bank guarantee and gives more flexible collaboration opportunity to Seller and Buyer. The Bank will honor the LC when the Buyer fails to fulfill payment liabilities to Seller. 4. Confirmed LC. In addition to the Bank guarantee of the LC issuer, this LC type is confirmed by the Seller's bank or any other bank. Irrespective of the payment by the Bank issuing the LC (issuer), the Bank confirming the LC is liable for performance of obligations. 5. Unconfirmed LC. Only the Bank issuing the LC will be liable for payment of this LC. 6. Transferable LC. This LC enables the Seller to assign part of the letter of credit to other parties. This LC is especially beneficial in those cases when the Seller is not a sole manufacturer of the goods and purchases some parts from other parties, as it eliminates the necessity of opening several LC's for other parties. 7. Back-to-Back LC. This LC type considers issuing the second LC on the basis of the first letter of credit. LC is opened in favor of intermediary as per the Buyer's instructions and on the basis of this LC and instructions of the intermediary, a new LC is opened in favor of Seller of the goods. 8. Payment at Sight LC. According to this LC, payment is made to the seller immediately (maximum within 7 days) after the required documents have been submitted. 9. Deferred Payment LC. According to this LC, the payment to the seller is not made when the documents are submitted, but instead at a later period defined in the letter of credit. In most cases, the payment in favor of Seller under this LC is made upon receipt of goods by the Buyer. 10. Red Clause LC. The seller can request an advance for an agreed amount of the LC before shipment of goods and submittal of required documents. This red clause is so termed because it is usually printed in red on the document to draw attention to "advance payment" term of the credit. Related Searches: Irrevocable Letter Of Credit, Revocable Letter Of Credit, Stand-By Letter Of Credit, Confirmed Letter Of Credit, Unconfirmed Letter Of Credit, Transferable Letter Of Credit, Back-To-Back Letter Of Credit, Payment At Sight Letter Of Credit, Deferred Payment Letter Of Credit, Red Clause Letter Of Credit, Letter Of Credit, Letter Of Credit Types, Letter Of Credit And Its Types, Standby Letter Of Credit,
Views: 1656 PakistanCustomsDotNet
WHAT IS  LETTER OF CREDIT? EXPLAINED IN DEPTH.
 
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Case - Explain Complete concept of Letter of Credit with Real Example ! Story - By Amlan ----Contribution's by Runold Fernandes . I am wanting to buy coke bottles from Coa Cola USA .....so evidently , i am the buyer Alway's remember that the receive of the payment (seller ) is termed the beneficiary .....so here Coca Cola USA is the benefeciary .... Let's also understand what is a letter of credit ....it is credit ( payment offered ) against documents and so also called documentary credit .... amechanism wherein the seller of the goods is assured of his payment because the buyer's bank take's guarantee to make the payment ...the seller is not concerned whether the buyer goes bankrupt or not So , in this case my bank is SBI , Cuffe parade ....this is called the issuing bank ....say , i want to buy 100 crates Coke bottles worth 10 million dollars .....i go and ask the bank to open a letter of credit (the process is called issuing letter of credit ) favoring the bebenficiary and the beneficiary bank as follows Beneficiary - Coca Cola Ltd Beneciary Bank - Citi Bank -Los Angeles Coca Cola Lts had already intimated me that he bank he desires for his payment to be credited shall be Citi Bank (Los Angeles )..... Case 1 - In present arrangement , SBI Cuffe parade is the issuing bank , Citi Bank Los anageles is the Bneficiary bank Once the LC is opened , SBI sends across the letter of credit to the advising bank which then advises Coca Cola that the LC has come and asks for the documents Say , Coca Cola ships the Material on 16Th May ....he gets the bill of lading and collects all the other documents like the invoice , ciountry of origin , Test certificate , inspection certicate ads mentioned in the LC and makes a presentation of the documents to the advising bank ( not neccesary that documents are to be submitted to the advising bank ) The bank ( in this case ----Citi Bank checkls the documents ...if it finds any discrepancy , it lets know to the seller( Coca Cola ) of the discrepancy ...say test certificate was missing , it lets Coca cola know of the same ...Coca cola then furnishes the remaining document...once the advising bank is satisfied that all documents are in order , it sends the documents to the issuing bank (SBI , cuffe parade ) If SBI , cuffe parade also finds that the docs are in order , then since it has taken guarantee for payment , it will have to make payment for the issued LC i.e pay the advising bank 2000 $ against the docs collected It then contacts me (buyer ) that all the docs are with it and asks me to make payment and collect the documents ( Sometimes while issuing the letter of credit , the bank blocks that much fund from my account and when the docs arrive debits my account and sends across the documents ) Using the Bill of lading document) document, i go to the Mumbai port to get my shipment released upon subsequent payment of Import duty for the coke trenches That's it The basics are clear , Hope You enjoyed , Cheers , Amlan
Views: 54947 Make Knowledge Free
Back-To-Back Letter of Credit Part I
 
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http://www.learnonline2u.net Tutorial on Letter of Credits (LC) for students studying International Trade and Finance by H.W. Nawawi a former banker (Facilitator and lecturer). Tutorial 1 http://youtu.be/72Q5EzZwMBo Tutorial 2 http://youtu.be/GLA_VRtRttU Tutorial 3 http://youtu.be/zDlpgDNIE7U
Views: 14124 zelot
Letter of credit - defined
 
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Letter of credit - is a method of payment for exported goods: an instrument is issued by a bank on request of a buyer, the bank promises to pay a specified amount of money on presentation of documents stipulated in the letter of credit, usually the bill - created at http://www.b2bwhiteboard.com
Views: 11462 B2Bwhiteboard
Bill of Exchange - Explained in Hindi
 
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Bill of Exchange is explained in Hindi. What is Bill of Exchange meaning, format, parties, endorsement of bill etc.? Discounting of Bills of Exchange and Types of Bill of Exchange will be discussed in upcoming videos. Other negotiable instruments under Negotiable Instrument Act 1881 are Promissory Note and Cheque. Related Videos: Promissory Note - https://youtu.be/Rh2GkMpJ7vU Types of Bills of Exchange: https://youtu.be/vDCoDg2o-yk इस हिंदी वीडियो में बिल ऑफ़ एक्सचेंज को समझाया गया है। बिल ऑफ एक्सचेंज मीनिंग, फॉर्मेट, पार्टीज, इंडोर्समेंट ऑफ़ बिल आदि क्या होते हैं? डिस्कॉउंटिंग ऑफ़ बिल्स ऑफ़ एक्सचेंज और टाइप्स ऑफ़ बिल ऑफ़ एक्सचेंज के बारे में भी दूसरे विडोज़ में विस्तार से चर्चा की गयी है। नेगोशिएबल इंस्ट्रूमेंट एक्ट 1881 के तहत प्रोमिसरी नोट और चेक भी नेगोशिएबल इंस्ट्रूमेंट्स के रूप में जाने जाते हैं। Share this Video: https://youtu.be/qcpkS1tpsFk Subscribe To Our Channel and Get More Property and Real Estate Tips: https://www.youtube.com/channel/UCsNxHPbaCWL1tKw2hxGQD6g If you want to become an Expert Real Estate investor, please visit our website https://assetyogi.com now and Subscribe to our newsletter. In this video, we have explained: What is the bill of exchange? What are the essential elements of the bill of exchange? Why bill of exchange is used? What is the definition of bill of exchange mentioned under negotiable instrument act 1881? What is the concept of bill of exchange? How to use bill of exchange in international trades or import-export? What is the difference between bill of exchange and promissory note? How many parties are involved in the bill of exchange payment method? How bill of exchange works? What is discounting of bill of exchange? What are the requirements of bill of exchange? What are the different types of bill of exchange? How a bill of exchange format looks? How you can file a suit? How to issue a bill of exchange? Make sure to Like and Share this video. Other Great Resources AssetYogi – http://assetyogi.com/ Follow Us: Facebook – https://www.facebook.com/assetyogi Google Plus – https://plus.google.com/+assetyogi-ay Linkedin - http://www.linkedin.com/company/asset-yogi Twitter - http://twitter.com/assetyogi Pinterest - http://pinterest.com/assetyogi/ Instagram - http://instagram.com/assetyogi Hope you liked this video in Hindi on “Bill of Exchange”.
Views: 127982 Asset Yogi
Foreign Exchange Rates, buying rate, selling rate, direct rate, indirect rates in hindi
 
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Foreign exchange terms - direct rates, indirect rates, selling/ buying rate, bill buying rate, bill selling rate, tt buying rate, tt selling rate all are covered. GET 3000+ JAIIB PREVIOUS YEAR QUESTIONS, Study Notes, Videos https://goo.gl/M8zMrV ------------------------------------------------------------- GET 4000+ CAIIB PREVIOUS YEAR QUESTIONS, Study Notes, Videos https://goo.gl/QGq6Sc FEMA - Foreign Exchange Management Act 1999 FOREX https://www.youtube.com/watch?v=wFj4GH8KfVY Standard Deviation, Variance in 2 minutes https://www.youtube.com/watch?v=Rabn5sZpGmo Foreign Exchange Spot rate Forward rate Buying rate https://www.youtube.com/watch?v=z4m4kWfe0UU Caiib BFM case study on Risk Weighed Assets https://www.youtube.com/watch?v=_80CvrvY3SM case study on Risk Weighed Assets Part 2 https://www.youtube.com/watch?v=SI7o6in1nmk GDP Cost Factor, Debt Equity Ratio, Elasticity https://www.youtube.com/watch?v=XsSjnRygk3s Case Study on Ratio Analysis https://www.youtube.com/watch?v=oMj08U679eQ Case Study on Balancesheet Part 2 https://www.youtube.com/watch?v=NX5k5l_xQiw Case Study on Balancesheet (ABM) https://www.youtube.com/watch?v=dT5wcOuyOxA join whatsapp group https://chat.whatsapp.com/1fUrovD1W2ICxHqAUx82Kv Legal Banking Questions PART 8: https://www.youtube.com/watch?v=SOwuB6f-VvA Legal Banking Questions PART 7: https://www.youtube.com/watch?v=V5ecuqkYDlc Legal Banking Questions PART 6: https://www.youtube.com/watch?v=g49gW5aqHUY Legal Banking Questions PART 5: https://www.youtube.com/watch?v=dT5cE9u9z0A Legal Banking Questions PART 4: https://www.youtube.com/watch?v=p5GEsfu9ZUM Legal Banking Questions PART 3: https://www.youtube.com/watch?v=YtQHiQ3xsEY Legal and Regulatory Aspects of banking Imp Ques PART 2 https://www.youtube.com/watch?v=yHrxOa8W31A Legal Banking Questions PART 1 https://www.youtube.com/watch?v=_7N3nBm7E8M Basel 1 Basel 2 Basel 3: https://www.youtube.com/watch?v=x_sOTObwx7g SARFAESI ACT 2002: https://www.youtube.com/watch?v=NFP--aVBrN8 Joint Liability Group: https://www.youtube.com/watch?v=EwHr4kbYtb4 Self Help Group: https://www.youtube.com/watch?v=Aw2E4wGC6XY Hypothecation: https://www.youtube.com/watch?v=LfyMNVKBttY Pledge: https://www.youtube.com/watch?v=SeOj8iSo1-E Banking Ombudsman https://www.youtube.com/watch?v=yk_qkutLzXY Protection to paying banker https://www.youtube.com/watch?v=T5E41Xd9rbs Letter of Credit and Its Types https://www.youtube.com/watch?v=kZG7KVz6ADA Banking Regulation Act 1949 Important Sections https://www.youtube.com/watch?v=5-acwfsYTAw Reserve Bank of India Act 1934 https://www.youtube.com/watch?v=YCHbT9NFVO4 NRO NRE FCNR Accounts https://www.youtube.com/watch?v=q-MGkikmGeE convention of conservatism https://www.youtube.com/watch?v=zvImhmWTKjY Business Entity Concept https://www.youtube.com/watch?v=Wv23h0PP1w8 Cost Concept https://www.youtube.com/watch?v=thNux_mQ3kU Money Measurement Concept https://www.youtube.com/watch?v=6la8X5VTuLg Petty Cash Book Voucher Imprest System of Petty Cash https://www.youtube.com/watch?v=9MRIIlEga3s JAIIB Important memory recalled questions AFB 3 https://www.youtube.com/watch?v=QXQfaEK2oIo JAIIB Important memory recalled questions AFB https://www.youtube.com/watch?v=MwbO4QJGLxM Internal rate of return https://www.youtube.com/watch?v=cgcY0vsINtE Straight Line Method Depreciaiton https://www.youtube.com/watch?v=9Y4kYoYSS-U Accounting and finance definitions and important concepts https://www.youtube.com/watch?v=9ZEtvgYVyPQ Accounting and finance imp Numerical: https://www.youtube.com/watch?v=oYDWCpmGJfw NOSTRO ACCOUNTS https://www.youtube.com/watch?v=cNESYz3lc6Y Vostro Accounts https://www.youtube.com/watch?v=1hIjjnxtKmw How to Calculate EMI [VIDEO in हिंदी ] https://www.youtube.com/watch?v=KwIDmbT2Tts Internal Rate of Return: https://www.youtube.com/watch?v=cgcY0vsINtE Yield to Maturity: https://www.youtube.com/watch?v=KL7Jn99RIKI Letter of Credit: https://www.youtube.com/watch?v=kZG7KVz6ADA ___________________________________________________ Important Question Principles & Practices of banking ___________________________________________________ Part 1: https://www.youtube.com/watch?v=4AnaI4QCtrM Part 2: https://www.youtube.com/watch?v=5p9BMivJyyg JAIIB Important memory recalled questions PPB https://www.youtube.com/watch?v=dKAYCHcfAfQ -~-~~-~~~-~~-~- Please watch: "Protection to Collecting Banker NI Act Legal and Regulatory Aspects of Banking JAIIB" https://www.youtube.com/watch?v=V-hiw3njkak -~-~~-~~~-~~-~-
Views: 13019 Learning sessions
What is DOCUMENTARY COLLECTION? What does DOCUMENTARY COLLECTION mean?
 
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What is DOCUMENTARY COLLECTION? What does DOCUMENTARY COLLECTION mean? DOCUMENTARY COLLECTION meaning - DOCUMENTARY COLLECTION definition - DOCUMENTARY COLLECTION explanation. Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. A documentary collection is a process, in which the seller instructs his bank to forward documents related to the export of goods to the buyer's bank with a request to present these documents to the buyer for payment, indicating when and on what conditions these documents can be released to the buyer. The buyer may obtain possession of goods and clear them through customs, if the buyer has the shipping documents (original bill of lading, certificate of origin, etc.). The documents, however, are only released to the buyer after payment has been made ("Documents against Payment") or payment undertaking has been given - the buyer has accepted a bill of exchange issued by the seller and payable at a certain date in the future (maturity date) ("Documents against Acceptance"). Documentary Collections facilitate import/export operations. They do not provide the same level of security as Letters of Credit, but, as a result, the costs are lower. Unlike the Letters of Credit, for a Documentary Collection the bank acts as a channel for the documents but does not issue any payment covenants (does not guarantee payment). The bank that has received a documentary collection may debit the buyer's account and make payment only if authorised by the buyer. Possibilities and advantages: Make international trade operations more flexible, Use Documentary Collection in cases when the seller does not want to deliver goods to the buyer on "open account" basis, but due to a long-term stable business relationship between the parties there is no need for security provided by a Letter of Credit or payment guarantee, Documentary collection is suitable to the seller: if the seller has no doubts about the buyer's ability to meet its payment obligations, if the political and economic situation in the buyer's country is stable, if there are no foreign exchange restrictions in the seller's country; Documentary collection is convenient for the buyer because: there is no need for an advance payment; payment for goods can be made when shipping documents have been received, in cases of documents released against acceptance the buyer has the possibility to sell the goods first and afterwards make payment to the seller. Documentary Collection assures the seller that the shipping documents will be released to the buyer only upon payment or acceptance of a Bill of Exchange.
Views: 4909 The Audiopedia
LC - Letter of Credit - China Import
 
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Letter of Credit. (LC) When a buyer and seller agreed to the deal, the buyer opens LC in favor of the seller. The issuing bank will take some guarantee money depending upon your financial transaction. 1. Agreement between the supplier and the importer (buyer) 2. Buyer applies to the issuing bank for opening of LC. Doc – Contract, invoice, purchase order (PO) 3. Issuing bank open LC and forward it to advising bank. 4. Advising bank check the authenticity and advise the beneficiary. 5. Beneficiary assembles the document and presents the draft to the advisory bank. 6. Advisory bank check the document and forward the draft to the issuing bank. The issuing bank pay to the buyer immediately Payment at sight LC or on a later date of the (deferred Payment LC). There are around types of LC. Important points to be mentioned in LC. 1. Shipment date. 2. Currency of payment. 3. Port of loading . 4. Port of Discharge. 5. Certificate of quality 6. Weight certificate. 7. Insurance certificate. (Education for Online Selling in India on Amazon.in, Flipkart.com, Snapdeal.com, ebay.in, shopclues.com, paytm.com, rediff.com, myntra.com, jabong.com)
Views: 7573 Ecom Seller Tips
Letter Of Credit | What is Letter Of Credit | LC | Hindi
 
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Views: 3563 Intellectual Indies
Module A - International Banking - Topic 1 Part 1
 
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Topic 1 - Exchange Rates and Forex Business - Part 1
Private Placement Programs (PPP) - Trade Finance SBLC
 
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Members :: Treasury Consulting LLP Pleased to Present Video Titled - " Private Placement Programs (PPP) - Trade Finance SBLC ". Video would be covering about Standby Letter of Credit (SBLC) Programs of Treasury Consulting LLP done in SBLC Market. Video would also be covering the difference between Trade Finance SBLC and Collateralised SBLC. You are most welcome to connect with us at 91-9899242978 (Handheld) , [email protected] , [email protected] , Skype ~ Rahul5327 , Twitter @ Rahulmagan8 or visit our website - www.treasuryconsulting.in
Incoterms - Explained in Hindi
 
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Incoterms are explained in detail in Hindi. Incoterms 2010 are defined by International Chambers of Commerce (ICC) to standardise import export business terms in international trade and shipping. If you are engaged in international business, you must understand these international commercial terms. इस वीडियो में Incoterms की विस्तार से हिंदी में व्याख्या की गयी है। International Chambers of Commerce (ICC) ने international trade and shipping में import export business terms को मानकीकृत करने के लिए Incoterms 2010 को परिभाषित किया है। अगर आप international business से जुड़े हुए हैं, तो आपको ये international commercial terms ज़रूर जान लेने चाहिए। Related Videos: Cost, Insurance and Freight (CIF): https://youtu.be/6qo97MJ2hWU Cost and Freight (CAF): https://youtu.be/kXE43TzjNFQ Carriage and Insurance Paid (CIP): https://youtu.be/J3FRj1p1SMU Carriage Paid To (CPT): https://youtu.be/rLONZ8DW77Q Delivered At Place (DAP): https://youtu.be/dwFvJIYgSF8 Delivered At Terminal (DAT): https://youtu.be/tE3GC_23xWk Delivered Duty Paid (DDP): https://youtu.be/0Gy1OWVUVCA Ex Works (EXW): https://youtu.be/uDKthkXM2n8 Free On Board (FOB): https://youtu.be/ISP7S2CDisY Free Carrier (FCA): https://youtu.be/CqBJuGxKTNM Free Alongside Ship (FAS): https://youtu.be/0Jpl8Aq92wk Bill of Lading: https://youtu.be/xZd76YxHDrg Letter of Credit: https://youtu.be/0UiLLhNhBiI Bank Guarantee: https://youtu.be/GWtBvqYYXbI Letter of Undertaking: https://youtu.be/ZNllCCuco8k Share this Video: https://youtu.be/GG2Ea4UvyrY Subscribe To Our Channel and Get More Property and Real Estate Tips: https://www.youtube.com/channel/UCsNxHPbaCWL1tKw2hxGQD6g If you want to become an Expert Real Estate investor, please visit our website https://assetyogi.com now and Subscribe to our newsletter. In this video, we have explained: What is Incoterms? What is the full form of Incoterms? When was the first Incoterms published? Who defines the Incoterms? How many terms are there in Incoterms? What are carriage terms? What are destination terms? What are the responsibilities of the seller in Incoterms? What are the responsibilities of buyers in Incoterms? What are the standard import-export business terms in international trade and shipping? Incoterms kya है? Incoterms का पूरा रूप क्या है? पहला Incoterms कब प्रकाशित हुआ था? कौन Incoterms को परिभाषित करता है? Incoterms में कितने पद हैं? Carriage के नियम क्या होती हैं? Destination शर्तें क्या होती हैं? Incoterms में विक्रेता की क्या जिम्मेदारियां हैं? Incoterms में खरीदारों की क्या जिम्मेदारियां हैं? अंतरराष्ट्रीय व्यापार और शिपिंग में मानक आयात-निर्यात व्यापार के नियम क्या हैं? Make sure to Like and Share this video. Other Great Resources AssetYogi – http://assetyogi.com/ Follow Us: Linkedin - http://www.linkedin.com/company/asset-yogi Facebook – https://www.facebook.com/assetyogi Google Plus – https://plus.google.com/+assetyogi-ay Pinterest - http://pinterest.com/assetyogi/ Instagram - http://instagram.com/assetyogi Twitter - http://twitter.com/assetyogi Hope you liked this Hindi video on "Incoterms".
Views: 65957 Asset Yogi
HOW IRREVOCABLE LETTER OF CREDIT WORKS?
 
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HOW IRREVOCABLE LETTER OF CREDIT WORKS? Story - By Amlan ----Contribution's by Runold Fernandes . I am wanting to buy coke bottles from Coa Cola USA .....so evidently , i am the buyer Alway's remember that the receive of the payment (seller ) is termed the beneficiary .....so here Coca Cola USA is the benefeciary .... Let's also understand what is a letter of credit ....it is credit ( payment offered ) against documents and so also called documentary credit .... amechanism wherein the seller of the goods is assured of his payment because the buyer's bank take's guarantee to make the payment ...the seller is not concerned whether the buyer goes bankrupt or not So , in this case my bank is SBI , Cuffe parade ....this is called the issuing bank ....say , i want to buy 100 crates Coke bottles worth 10 million dollars .....i go and ask the bank to open a letter of credit (the process is called issuing letter of credit ) favoring the bebenficiary and the beneficiary bank as follows Beneficiary - Coca Cola Ltd Beneciary Bank - Citi Bank -Los Angeles Coca Cola Lts had already intimated me that he bank he desires for his payment to be credited shall be Citi Bank (Los Angeles )..... Case 1 - In present arrangement , SBI Cuffe parade is the issuing bank , Citi Bank Los anageles is the Bneficiary bank Once the LC is opened , SBI sends across the letter of credit to the advising bank which then advises Coca Cola that the LC has come and asks for the documents Say , Coca Cola ships the Material on 16Th May ....he gets the bill of lading and collects all the other documents like the invoice , ciountry of origin , Test certificate , inspection certicate ads mentioned in the LC and makes a presentation of the documents to the advising bank ( not neccesary that documents are to be submitted to the advising bank ) The bank ( in this case ----Citi Bank checkls the documents ...if it finds any discrepancy , it lets know to the seller( Coca Cola ) of the discrepancy ...say test certificate was missing , it lets Coca cola know of the same ...Coca cola then furnishes the remaining document...once the advising bank is satisfied that all documents are in order , it sends the documents to the issuing bank (SBI , cuffe parade ) If SBI , cuffe parade also finds that the docs are in order , then since it has taken guarantee for payment , it will have to make payment for the issued LC i.e pay the advising bank 2000 $ against the docs collected It then contacts me (buyer ) that all the docs are with it and asks me to make payment and collect the documents ( Sometimes while issuing the letter of credit , the bank blocks that much fund from my account and when the docs arrive debits my account and sends across the documents ) Using the Bill of lading document) document, i go to the Mumbai port to get my shipment released upon subsequent payment of Import duty for the coke trenches That's it The basics are clear , Hope You enjoyed , Cheers , Amlan
Views: 5306 Make Knowledge Free
Preview - Letter of Credit System
 
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This is a preview of the Letter of Credit System.
Views: 1071 Brandy Terrie
Private Placement Platforms (PPP) - SBLC Monetization
 
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Members :: Treasury Consulting LLP Pleased to Present Video Titled - " Private Placement Platforms (PPP) - SBLC Monetization ". Video would be covering about as how Standby Letter of Credit (SBLC) is done and how is the role of Issuer, Issuer Bank, Recipient, Recipient Bank, Credit Bank and also Swift messages like MT 103, MT 760, MT 799 You are most welcome to connect with us at 91-9899242978 (Handheld) , [email protected] , [email protected] , Skype ~ Rahul5327 , Twitter @ Rahulmagan8 or visit our website - www.treasuryconsulting.in
Private Placement Platform (PPP) - Direct Pay Standby (DPLC)
 
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Members :: Treasury Consulting Pte Ltd Pleased to Present Video Titled - " Private Placement Platform (PPP) - Direct Pay Standby (DPLC) ". Video would be covering about as how Corporates who are having either Short Term or Long Term funding requirements can avail the facility of DirectPlay Letter of Credit (DPLC). Video would also be covering as how Corporates can monetize as well as Trade the same SBLC. You are most welcome t connect with us at 91-9899242978 (Handheld), 91-011-40199774 (Fixed Income KPO,LPO), Skype ID - Rahul5327, [email protected] or www.fixedincome.global or www.treasuryconsulting.in
Letter of Credit
 
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This video illustrates the documentary Letter of Credit transacitons, mechanism, rules and safe guards as a part of CAIIB BFM exam.
Views: 394 TUTORIAL BASE
Difference between Red clause and Green Clause Letter of Credit
 
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There are differences from Green Letters of Credit to Red Letters of Credit. The differences to Red Letters of Credit are that advances of cash are made against the actual documents of title and not simply just an undertaking to produce them. Therefore it is a secured lending product and not unsecured. It is secured against commodities that will be registered in the banks name and usually up to 75-80% of the face value of credit can be advanced. Therefore, security is provided to the buyer and the buyer can be confident that there are goods which are at the bed of any advance. GET 3000+ JAIIB PREVIOUS YEAR QUESTIONS, Study Notes, Videos https://goo.gl/M8zMrV ------------------------------------------------------------- GET 4000+ CAIIB PREVIOUS YEAR QUESTIONS, Study Notes, Videos https://goo.gl/QGq6Sc Accounting & Finance for JAIIB watch fulll video: https://youtu.be/t2Y9G3AEQEk Download JAIIB Pro App for Android Now: https://goo.gl/ySSwak Other Videos: ________________________________ Internal Rate of Return: https://www.youtube.com/watch?v=cgcY0vsINtE Yield to Maturity: https://www.youtube.com/watch?v=KL7Jn99RIKI Letter of Credit: https://www.youtube.com/watch?v=kZG7KVz6ADA ___________________________________________________ Important Question Principles & Practices of banking ___________________________________________________ Part 1: https://www.youtube.com/watch?v=4AnaI4QCtrM Part 2: https://www.youtube.com/watch?v=5p9BMivJyyg ________________________________ Join WhatsApp Group: https://goo.gl/HazWj3 ________________________________ Join our Facebook Group: https://www.facebook.com/groups/jaiib.caiib.tests -~-~~-~~~-~~-~- Please watch: "Protection to Collecting Banker NI Act Legal and Regulatory Aspects of Banking JAIIB" https://www.youtube.com/watch?v=V-hiw3njkak -~-~~-~~~-~~-~-
Views: 9868 Learning sessions
What Is LC (letter of credit) In Export Import Business || Import Export Business
 
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Online Exim Solution Export Import Practical Training Center NEXT BATCH : 06 to 09 December 2018 13 to 16 December 2018 20 to 23 December 2018 Special 4 Days Residential Training CONTACT US ON: Mobile no : +91 9714779191 Email ID : [email protected] Address : H – 611, Titanium City Center, Near Sachin Tower, 100 Feet, Anandnagar Road, Satellite, Ahmedabad – 380015, Gujarat, INDIA FaceBook :https://www.facebook.com/ExportImport... Linkedin : https://www.linkedin.com/in/paresh-so... Instagram : https://www.instagram.com/pareshsolan... Google+: https://plus.google.com/u/2/+pareshso... Twitter : https://twitter.com/PareshSolankiE We are Specialized in HOW TO FIND BUYERS
Views: 2714 Paresh Solanki
Letter of credit in Hindi
 
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In this tutorial we explained about letter of credit procedure in hindi More information visit www.exportimportindia.in You can also join & follow on our social media network ► Facebook https://www.facebook.com/ExportImportIndia ► Google+ https://plus.google.com/u/0/+ExportImportIndia ► Twitter https://www.twitter.com/exportimport85 ► Instagram https://www.instagram.com/mr.mukesh_kalal ► Pinterest https://www.pinterest.com/exportimportind/ ► Tumblr http://exportimportindia.tumblr.com/ ► Website http://www.exportimportindia.in/
Views: 106841 Export Import India
Letter of credit used in international trade
 
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watch our other Videos 1*Meaning of Public sector banks,Private sector bank & Nationalized bank in INDIA https://www.youtube.com/watch?v=LfdAnijUVf8&t=10s 2*FIRC (Foreign Inward Remittance Certificate)https://www.youtube.com/watch?v=f382yMWSK6U&t=90s 3*Public sector bank with taglines-https://www.youtube.com/watch?v=s56D_GZhTjA&t=5s 4*INTERNATIONAL TRADE POLICY FRAMEWORK_ TRADE FINANCE TOPIC_1 https://www.youtube.com/watch?v=cm4wxJmgPUU 5*Components of Trade _Trade finance _Topic 2_Hindi https://www.youtube.com/watch?v=UuGj1nApu2I 6*Buyer's Credit _ Explained in Hindi and English https://www.youtube.com/watch?v=jRsYAywa8Ms&t=7s 7*LIBOR | Money, banking and central banks | Finance & Capital Markets | https://www.youtube.com/watch?v=XDCwWLr-b9Q&t=2s 8*"Deemed Exports" Explained in Hindi https://www.youtube.com/watch?v=5GAwEcRx8Ic 9*Export Credit Guarantee Corporation of India_ ECGC Benefits explained in hindi https://www.youtube.com/watch?v=VOkae9lmA8w&t=1s 10*Bill Discounting - Explained in Hindi https://www.youtube.com/watch?v=giEgVBJGemI 12*Return to editingEEFC Account_ explained in Hindi _ v blog Number 12 https://www.youtube.com/watch?v=ND5JOwUhAwM&feature=youtu.be
Views: 19 BUSINESS BANKING