Legal Question in Business Law in Pakistan
Bills of Exchange under Letters of Credit
What is the significant of a bill of exchange under commercial letter of credit or why business prefers to call a bill of exchange under commercial letter of credit? Please eleborate. Thanks
Asked on 4/16/08, 4:18 am
1 Answer from Attorneys
Nasir Mahmood Bhatti
Prudent Legal Professionals.
Re: Bills of Exchange under Letters of Credit
Hope you will be fine. Actually there are different modes of financing the corporate entity e.g issuence of shares, debenchers or through loans.This is one of the mode to get finances from a unit having excessive finences than its own needs.bill of exchange under your latter of cradit is signifacantly strong in binding nature of the instrument you have issued to get finances.
Answered on 4/16/08, 8:58 am
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