Letter of Credit(LC) का सब कुछ आसान भाषा में समझिये
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- Опубликовано: 16 июн 2024
- What is a Letter of Credit? LC meaning & process are explained in Hindi. A letter of credit is used in import-export business or international trade when Buyer and Seller cannot trust each other. Sign-up to our new app for discounts and early access: ✔ assetyogi.com/sign-up/
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Time Stamps
00:00 Introduction
01:51 What is a Letter of Credit?
01:98 Process of Letter of Credit
08:05 Collateral and Charges
08:30 Fundamental concept of International Trade
05:52 Correctness of Letter of Credit
10:56 Advantages of Letter of Credit
Other related videos:
Types of Letter of Credit (LC) - • Types of Letter of Cre...
Bank Guarantee - • Bank Guarantee - Expla...
Incoterms - • Incoterms - Explained ...
Bill of Lading - • Bill of Lading - Expla...
Types of Bill of Lading - • Types of Bill of Ladin...
Issuing or Opening Bank, Advising Bank, and Negotiating Bank are involved in the transaction.
The seller gets his money once he ships the goods and presents the Bill of Lading to the negotiating bank. International trade is governed by Incoterms and UCP (Uniform Customs and Practice for Documentary Credits) guidelines issued by the International Chambers of Commerce.
बैंक गारंटी क्या है? बैंक गारंटी के कई प्रकार - परफॉरमेंस गारंटी, फाइनेंसियल गारंटी, अग्रिम भुगतान गारंटी, बिड बांड या अर्नेस्ट मनी डिपॉज़िट (EMD), फॉरेन बैंक गारंटी, डैफर्ड पेमेंट गारंटी आदि होते हैं। बैंक गारंटी और इसके प्रकारों को इस वीडियो में हिंदी में समझाया गया।
बैंक गारंटी लेटर ऑफ़ क्रेडिट से अलग होती है। हालांकि दोनों ट्रेड फाइनेंस या ट्रेडिंग फाइनेंस में उपयोग की जाने वाली नॉन-फण्ड बेस्ड क्रेडिट फैसिलिटीज़ हैं, लेकिन दोनों ही अलग-अलग वित्तीय साधन हैं। आपको कोलैटरल के साथ बैंक गारंटी शुल्क का भुगतान भी करना होता है।
बिड बांड या अर्नेस्ट मनी डिपॉज़िट (EMD) जमा करते समय बैंक गारंटी का उपयोग बिडिंग और ट्रेडिंग में भी किया जाता है।
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In this video, we have explained:
What is a letter of credit?
How does the concept of the letter of credit work?
What is the meaning of LC or a letter of credit?
What is the process for the letter of credit?
How does a letter of credit work?
How letter of credit is different from a bank guarantee?
How letter of credit is used in import-export business or international trade?
How many types of letters of credit are used in trade business?
How credit facility is used or arranged for international trade business?
How letter of credit helps to build trust in international trade when Buyer and Seller cannot trust each other?
How issuing or opening bank, advising bank and negotiating bank are involved in the process of the letter of credit?
What is the use of the bill of lading while using the letter of credit for import and export?
What is the process of opening LC?
What is the role of confirming bank in the letter of credit?
Why a collateral is important for issuing a letter of credit?
What are the advantages and of the letter of credit for sellers?
What are the advantages and of the letter of credit for buyers?
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Hope you liked this video in Hindi on “Bank Guarantee”. 
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My banking law paper is day after tomorrow and watching your videos..thank you so much..you're a saviour!!!😊
Absolutely brilliant. Explained everything in such a simple way. Kudos sir
Crystal clear explanation. Thank you sir.
Thanks for the upload. However, from my experience, I'd like to argue a point at 12:29. You mentioned that buyer gets a small credit at the beginning of opening the L/C. However, when my company opened an L/C, our bank (UBS) always held the funds immediately after L/C was drafted and confirmed for the duration of the L/C period. At this point, goods weren't shipped by the seller.
Very precisely explained. Keep uploading such videos. These are really very helpful to understand such twisted concepts. Thank you sir.
Hi
Dear Sir,
This is an excellent video I have found on LC. I request you to kindly provide videos in following topics:-
PO finance
PCFC- pecking credit - Foreign currency
Vendor discounting
Thank you so much ur videos finally help me to clear all the concept regarding LOC without studying from books...tq
Mukul, thank you very much for lectures, you have a very clear understanding of the fundamentals and the needs of the learners. Because of which the flow of your lectures progress at a very peaceful and smooth progression. After listening to you there remain no unanswered questions provided we apply our mind to your problems,I like the closing salutations you are so full of positive energy.
I will come and
Sorry to be off topic but does any of you know of a way to get back into an instagram account??
I somehow lost the password. I love any tricks you can offer me
@Zane Turner instablaster =)
@Cyrus Grayson I really appreciate your reply. I got to the site through google and I'm waiting for the hacking stuff now.
Looks like it's gonna take a while so I will get back to you later when my account password hopefully is recovered.
You are just awesome, really helpful for new importers like me.
Very very informative and step by step explanation. Thank you Mukul. Asset Yogi for your such a wonderful content.
😊 Thank you for your kind words and support.
Hi Mukul,
Thanks for explaining the concept of LC. Your style of teaching makes it very easy to understand.
I was looking for a video for Preshipment (export loan) and postshipment (export bill) concept.
I am not sure if you have shared this video with some other name. Request you to share the same. Believe me, your videos are really helpful.
Thanks a ton.
Hemang Thakkar.
So clear and even small point also covered.. Wonderful guidance.. Thank you
Ur video is useful for jaiib ,caiib and banking related exam also
Keep learning
Thanks a ton, Sir, nice explanation. God bless you..
Hope it helps :)
Explained in quite a simple way...Thanks a lot!
Thank you it is very helpful for me may God bless you.
Awesome..Best lecture on LoC so far😍
Al vedios are excellent .so I'm not mentioning any particular one here..keep going
Thank you Charulatha
watching your videos from Nepal. Your explanations are very clear. Thank you for this. Your channel has helped me a lot.
Maa sha ALLAH sir, aap ne bohot acche se samjhaya hai.
May ALLAH bless you.
Thank you very much for making this video. It has cleared my doubt
Glad to hear that 😊
Sir, I know that you have covered functioning of trade finance products. However, can you please cover all the other International trade finance products
Excellent.. How efficiently you covered import export & finance information at the same time.. Keep it up
Thank u for improving knowledge about L.C for export
Foreign purchase procedure par video banaye
Sir, it's a well explained video on LC. I would like to know that who is reponsible to share shipping information like AWB, Flight detail, date, etc to buyer
they will send the documents to your bank snd once the documents received at The buyers bank they will check whether the documents are presented as per the terms and conditions which were mentioned while opening an lc , once the same is done bank will inform the buyer that we have received your documents. post that buyer will provide the declaration of acceptance that they will make payment on due date
You are amazing 🙌
I was really facing difficulty in understanding it by book. Now it is easy for me. I don't even need to memorize bookish language
Thanks so much. I'm studying business management & your video helped me understand about this export import related topic. Please consider incoterms in next vid
As usual appreciable 😇
Love from Pakistan!
Thank you 😊 Anosh
Awesome explanation sir thnku for enlightening on this topic 👏🏻
Perfectly Explained ! Hatsoff ! 👍🏻
Thnaks sir apne babut easy way mai LC Ke bare mai bataya. Thanks sir for share these imp. Topic
For the basics it's really fantastic (y) and well explained. You can post another video for detailed knowledge. Thanks for posting.
Noted, thanks for the suggestion.
Without acceptance from issuing bank negotiating bank can't pay amount to seller
@@rajnishsingh2023 can you please explain
@@binhilabi what is need of explanation. It's simple that without acceptance no one can discount LC... Because acceptance bank liable to pay amount on due date to discounting bank...
You can also elaborate about UCP600 and the different clauses
Thanks sir very nice and informative video
Thank you very much. Supreme video. once for lifetime concept.
Way of explanation ,, superb👌
I hope this will be helpful :)
Sir, very nice presentation. I have a query. I was having doubt at one point. step 7 should be prior to step 6. i.e. approval of documents from opening bank should precede payment to beneficiary by negotiating bank.
Regards,
A student
Best explanation ever.. every concept is cleared in a good way
Thanks for appreciation Somesh :)
बहुत अच्छे से समझाया आपने... धन्यवाद सर
Excellent explanation..
Thank you 😊
Too good, well explained 🙏
Thanks Nitish
it's great. Easy to understand.👍
Thank you so much. This video help me alot in my exam today. You clear all my doubts.
Thanks for sharing your words Rachit. Keep supporting, keep growing
Aa yeah ! Thank u so much sir ❤️🙏🏼
Hope it's useful Pratik
@@AssetYogi bhaiya ji Kitna jaldi payment milta ha LC main ?
Excellent bro but could you please explain or suggest the video in which the Clauses / Tags used in Letter of Credit.
very good and elaborately explained the basics of LC
This is one of the best video i saw about lc
It is a good tutorial but lack of information in starting like buyer firstly contact with seller and they will in contract in which terms and condtions will be written, in which one of the condtion is LC as well that will has to be accepted by both parties. if you will add this in this lecture then in my opinion it will be more beneficial.
Bahut khoob.
Thank you 😊
@@AssetYogi bro.. your video is good but if you use hindi as a language you are reducing your potential viewers only in to Hindi knowing people
What is shipping bil
Very nicely explained
Thank u sir...concept is very nicely explained
Nthng to say..👌👌
His teaching skills r amazing..
Tq
Keep learning
@@AssetYogi next video please please continue it sep by step to improve knowledge and take srtong step to build a raputed business ok thanks sir.
Sir, thanks for sharing the knowledge over working of LC.
Please suggest what is the difference between UPC articles and UPC rule and which should be referred while going for LC?
Lĺllppppppppppp
Hi, I really like your videos. So concise, understandable and the methodology of teaching is great. Could you please make a video on factoring and forfaiting
You video is really good. Covering the required aspects in simple language.
Thanks for appreciation Brajendra :)
Great sir,
Thanks thanks sir
Hope it helps you DigiTal
Methods of remittances par video kare
Ur very expert and good teacher. Ucp 600 articles and urr 500 articles please explain too in hindi.. I always see your all videos and learning a lot
Thank you for your great work and sharing your experience
Excellent one 👍👍
Thanks
Awesome.Could you pls explain about Aluminum premium pricing and LME
Noted your topic suggestion Asha
just like lc needs to be...
ur teaching is exact as that precise and clear... ❤️❤️ when the student is student is ready teacher appears ~RUMI
A Very Informative Channel 👌 Thanks Sir For Sharing such Important things in a Best way
This is very nice and informative. One suggestion: You may also include the pricing of LC and financial impact.
Sir aap bahut Achha samjate ho , details me , aap se meri humble request he ki aap pura export import a to z sikha do please , specially sari gov. schemes
Thank you, and I have noted your suggestion.
Thnku so much ...in simple words u clear all doubts related this concept
Glad to know that it helped you.
Thank you for this informative video.
Sir pls explain about preshipment finances and postshipment finances
Topic noted for future videos.
Super tiching sir .....
@@AssetYogi tks
Could you please make a video about how does advance payments and payments to middlemen work with LC. Th anks
Sir please UCPDC 600 ka important articles explain kijiye with examples 🙏🙏🙏
No one can explain in this way
Easy to understand to anyone...
Salute
Keep learning Ashu 😊
बहुत ही उपयोगी वीडियो है
Dear sir how we export our products with buyer to deal with them in rupees or dollars? I hope you reply me.. Thank you
sir, when negotiating/nominating bank is required although every exporter has advising bank
Negotiating bank is the bank which purchased/discount the bills drawn under LC. Pls see this video.
ruclips.net/video/E10jIRDw76c/видео.html
@@umeshjoshi7523 ioiijmmmmm0jP0iJ000000i0000ppppppppppp0009J00i000000pu00000000jpiii0I0opopi0oooppo0iio9oipopojjp
How bank fee taking bank to make this
Ur too good sir.. Thanks for clearing the concepts
Dear Sir, you are, excellent, superhit, outstanding, extra ordinary, magnificent person, thanks...
Sir why there are separate LoC(letter of credit) and LoU(letter of undertaking) if the function of both is to built trust between 2 entities for completing transaction ..I found LoU to be a easy procedure than LoC.
Sir please clear my doubt🙏🙏
Thank you sir Nice explanation of LOC sir these financial videos are useful for DBF exam?
Good to hear that these videos are helping you in your exams.
Sir u r the great tutorial ur ways of explanation is very understandable I thanks you for sharing ur knowledge through a this network
Thank you for appreciation 😊
Thank you for making video, very informative
Hope it helps 😊
Sir, aapki vedios se bahot accha samagh aata h. Ek request h please markiting logistics pr bhi vedios bnaiye pls sir
Pehle grammar ka VIDEOS dekho phir MARKETING sikhna ..Rip angreji ...
Caiib exam retail banking par videos kare sirji
Thank you very much this is a Good process
Well explained video covering all auspects of LC
what is the meaning of "Shippers Usance Period in LC"
Usance period is the period given for importer to pay the bill. For more see the video
ruclips.net/video/E10jIRDw76c/видео.html
In import case, How to recover the excess amount paid to the foreign supplier.
You can settle the excess amount paid in your next order or send a SWIFT message to importer bank for reversal of excess money
Helpful information i already done these processe
Namaste Sir. ...wonderful. ..Thanks ..for sharing your knowledge. ....we are your lifetime students. ....
Hope it helps and thank you for appreciation Debasis 😊
What is Letter of Intent?
What is Letter of Undertaking?
What is Financial Closure in Any Project?
Export promotion organization...ye questions ka video banaye request
thank you for sharing the detailed information.
Much simple explanation, informative video.
सर एक्सपोर्ट के डाक्यूमेंट्स बनाने के बारे में बताइए में यह हमारा सी एच ए हमारी डॉक्यूमेंट बनाने में हेल्प करेगा
Very nice question
Bro only if this was n English but some how i understood lol
Bro he is addressing the 99.99% of Indian people, So if you want to learn what he is saying come to India and learn hindi then you will get to know everything.
Gratitude for sharing very helpfull video.
Regards
Kashif Nadeem
Pakistan
Dear sir
Thanks for your video on opening of letter of credit, please make a video on who is drawer bank, drawer bank and payee bank .... Thanks
Yogi...
Or loc and bank acceptance are similar?
Vo to line of control ho gaya 😂😂
Sir ma phli bar apna product export krna wala tha 70% advance payment bhi milna wali thi pr Importer ko third party guarantee chiya .. like kisi mnc vgra se pr hm nai janta aasa kisi ko to ab kya kra???
I think, LC is also act like third party guarantee
Very nice very comprehensive, describe in detail, way of giving lecture outstanding. 👍👍👍
Thanks for appreciation Shafiq
Simple and straight on point. Thanks
Thank you 😊