luottositoumus
Luottositoumus, or a letter of credit, is a financial instrument commonly used in international trade to facilitate secure transactions between buyers and sellers. It acts as a guarantee from a bank or financial institution that the seller will receive payment once certain conditions are met, typically the delivery of goods or the completion of a service. This mechanism helps reduce the risk of non-payment for the seller and provides assurance to the buyer that the transaction will proceed as agreed.
A luottositoumus is issued by a bank at the request of the buyer (importer) and is addressed
The process begins when the buyer applies to their bank to establish the luottositoumus, specifying terms such
Luottositoumus is widely used in cross-border trade due to its ability to mitigate risks associated with unfamiliar