Akreditív - Letter of Credit
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Tovar means 'goods' in Slovak.
jrynik 5 months ago
:43 Don't you mean the "importers" bank sends the money not the "exporters" bank?
canaan1967 1 year ago 3
Well, to make a 'video' simple, the transfer of money has not been shown.
Just to make sure we both mean the same things:
Exporter - sells goods abroad to another company
Importer - buys goods to sell it in their country
What happens with the money is that:
1. The importer sends money to his bank = (importer's bank)
2. After checking the documents, the importer's bank sends the money to exporter's bank.
3. After checking the documents, the exporter's bank sends the money to the exporter.
jrynik 1 year ago