Banking Bites – Shiksha Bites for Needy People

Complete Letter of Credit (LC) Process: From Opening to Final Payment

Complete Letter of Credit (LC) Process: From Opening to Final PaymentIntroductionA Letter of Credit (LC) is one of the safest payment methods used in international trade. It protects both the exporter and importer by involving banks in the payment process. The buyer gets assurance that goods will be shipped correctly, Read more

By Shiksha Bites for Needy People, 4 weeksMay 15, 2026 ago

Banking Bites

Right to service act 2

RTS Act – Critical Analysis MCQ Right to Service Act Critical Analysis – 100 MCQs (Tough) Submit

By Shiksha Bites for Needy People, 4 monthsFebruary 12, 2026 ago

Banking Bites

Bank Guarantee extention

⭐ How to Extend a Bank Guarantee (Complete process ) 1️⃣ Beneficiary Requests Extension (If Applicable) Sometimes the beneficiary (the party in whose favour BG is issued) will ask for extension.They send a formal extension request letter to the applicant (your company). 2️⃣ Applicant Requests Their Bank to Extend the Read more

By Shiksha Bites for Needy People, 6 monthsNovember 29, 2025 ago