Why submission of Bill of Entry to LC issuing bank is necessary?

Question added by Sajid Ahmad Khan , Manager, Finance & Admin , LEADS Corporation Ltd.
Date Posted: 2014/06/30

Upvote (0) Views (6) Followers (1) Answers (1) Report Question

by Raeed Budnar , Senior Accountant , Point To Point Design (P2P)

So that the company can buy products/materials from other supplier with easy credit facility with out fear as the bank guarantees the supplier

What is contra entry?
Top Answer: Contra entries are related with the transaction between the cash and bank account. See More

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Why should the applicant give a bill of exchange to issuing bank under usance LC?
Top Answer: To Can Collect The value of The bill from The Beneficiary after bank make all audit requirement and confi ... See More

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