Difference between Letter of Credit and Bank Guarantee

Difference between Letter of Credit and Bank guarantee

There is always a credit risk for both buyers and sellers during domestic or international trade/ transaction between two parties. The letters of credit and bank guarantees, both are utilised to mitigate the credit risks of buyers. However, letter of credit and bank guarantee are not similar and often used (domestic and international) in different …

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7 Types of Bank Accounts | With Features & Benefits

different types of bank accounts

There are various types of bank accounts which anyone can open in nearby banks whether it is public or private. Are you a professional, self-employed or entrepreneur? Looking for opening a bank account or just curious to know the different types of bank accounts.

Difference between Entrepreneurs and Businessmen | 6 Hidden Aspects

Difference between Entrepreneurs and Businessmen

The entrepreneurs and businessmen are generally misunderstood and look similar term but conceptually, there are critical differences between their intention approach to business. In simple words, the entrepreneurs and businessmen have their own distinct approach and belief towards businesses, however, the final goal of both of them is to make profits by providing whatever products …

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Functions of Banks | Bank Definition And Important Banking Services

functions of banks

The banking system plays a vital role in economic development and is one of the most significant components of the financial system of any country. The banks not only facilitates the creation of credit but at the same time they provide numerous other services for the management and transactions of funds between two persons or …

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