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Glossary
  • Absorption
  • Accelerated Tariff Elimination
  • Acceptance
  • Acceptance Letter of Credit
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    ABC Trade in RussiaReason to Invest

    ABC / Acceptance Letter of Credit

    A letter of credit which instead of agreeing to pay the beneficiary immediately upon presentation of documents, requires presentation of a time draft drawn by the beneficiary upon the issuing bank or another bank. However, the beneficiary may, in effect, obtain prompt payment by discounting the draft.
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