Chronology of events icon

Chronology of events

НазваChronology of events
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  1. Buyer contracts with issuer bank to issue a letter of credit; this sets forth the bank's obligation to pay on the letter of credit and buyer's obligation to pay the bank.

  2. Letter of credit is sent to seller informing seller that on compliance with the terms of the letter of credit (such as presentment of necessary documents—in this example, a bill of lading), the bank will issue a payment for the goods.

  3. Seller delivers goods to carrier and receives a bill of lading.

  4. Seller delivers the bill of lading to issuer bank and, if the document is proper, receives payment.

  5. Issuer bank delivers the bill of lading to buyer.

  6. Buyer delivers the bill of lading to carrier.

  7. Carrier delivers the goods to buyer.

  8. Buyer settles with issuer bank.


Chronology of events iconList of scientific / business events that will be supported by the Canadian Supplementary budget in 2011

Chronology of events iconOf conferences, round able discussion, seminars and other scientific events for academic year 2012-2013

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