Learn how letters of credit work, the roles of buyers, sellers, and banks, and why these financial tools help reduce risk and ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Robert Kelly is managing director of XTS Energy LLC, and has more than three decades of ...

Commercial letters of credit provide reliable means of payment in commercial sale transactions Letter of credit and bank's payment are independent of underlying sale transaction Bank's obligation to ...