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Letter Of credit!
Posted: Wed Mar 11, 2009 2:06 am
by sandeepyam
How is letter of credit created/entered in accounts payables... Help would be appreciated...
thanks
Sandeep
Posted: Wed Mar 11, 2009 6:15 am
by oracleapps1983
Hi Sandeep can you What is Letter of Credit and How it is
Posted: Sat Mar 14, 2009 6:50 am
by sandeepyam
X sells goods to y... Therefore Y is a customer of X. There are instances where the customers('Y') bank gives a guarantee to X'x bank, of paying the cost of shipment if "Y" is unable to pay.
This is called Letter Of credit..
am told that for this to be integrated into Payables, a seperate submenu/function is added to AP menu... am yet to explore this concept..
Experts pls comment...
Regards
Sandeep