Bank Letter of Credit
Bank letter of credit known as ‘Documentary Credits’ is the most accepted instrument of settling international trade payments. A Letter of Credit is an arrangement whereby Bank acting at the request of a customer (Importer / Buyer), undertakes to pay for the goods / services, to a third party (Exporter / Beneficiary) by a given date, on documents being presented in compliance with the conditions laid down.
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The global security solutions market demand is projected to reach USD 483.62 billion by 2026, exhibiting a CAGR of 8.84% during the forecast period. Consistent rise in military expenditure by major economies will propel the growth of this market.
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