Institutional units within the monetary sector, which is also called the banking or financial system, are divided into two main groups: monetary authorities – a central (state, national) bank that issues the national currency, stores state gold and foreign exchange reserves and manages the entire monetary sector of the economy; commercial banks that attract depositors’ […]
Tag: control
Acceptance
Delivery of goods is understood as the transfer of goods by the seller to the possession of the buyer in accordance with the terms of the contract of sale. As a result of such a transfer, the buyer is able to exercise full control over the goods. Delivery of the goods to the carrier is […]
Payments in the form of a letter of credit
The letter of credit is in the best interests of the exporter, ensuring that he receives timely export revenue. The use of letters of credit allows satisfying the needs of customers in payments that provide payment. Banks, participating in a letter of credit operation, receive significant profit from commission fees, since the share of participation, […]