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Trade Finance

Guarantees

An instrument issued to a buyer/contractor by an acceptable third party (a bank ) guaranteeing that the buyer/contactor will comply to its obligations under the contract. If he/she fails to do so, the bank  will be  liable  for the said amount.

Letters of Credit

Letter of credit is an agreement between the buyer/importer and the seller/exporter that when the buyer receives the goods will be able to remit the funds to the seller. This form of payment is used to give protection to exporters/seller and importers/importer against buyer/sellers risk and country risk.