When An Account Is Said To Have A Credit Balance? If the total of your credits exceeds the amount you owe, your statement shows a credit balance. This is money the card issuer owes you. You can call your card issuer and arrange to have a check sent to you in the amount of the
How Does An International Letter Of Credit Work? A Letter of Credit is a contractual commitment by the foreign buyer’s bank to pay once the exporter ships the goods and presents the required documentation to the exporter’s bank as proof. … This means the exporter gets a guarantee of payment, while offering the importer reasonable
What Is Letter Of Credit And How Does It Work? A letter of credit is essentially a financial contract between a bank, a bank’s customer and a beneficiary. Generally issued by an importer’s bank, the letter of credit guarantees the beneficiary will be paid once the conditions of the letter of credit have been met.