Monday, October 6, 2008

What are the bill of lading and letter of credit

Definition of Bill of lading :-
Bill of lading is a negotiable document , like air consignment note , which has to surrendered to the carrier for getting delivery of goods in case of cargo imported or exported by air.

Definition of Letter of credit :-

Letter of credit is given by bank to seller for giving intimation that buyer said to him that bank must pay from his account to supplier after showing evidence proof of selling the goods.


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