Confidence level is a degree of confidence expressed as percents like 90%, 95% and 99% prior assigned to the data before the confidence interval is calculated.
In modern business practice, a letter of credit (LC) also known as a Documentary Credit, is a written commitment by a bank issued after a request by an importer (foreign buyer) that payment will be made to the beneficiary (exporter) provided that the terms and conditions stated in the LC been met, as evidenced by the presentation of specified ...
A letter of credit generally has three participants: the beneficiary (the person or company who will be paid), the buyer of the goods or services (sometimes called the applicant), and the issuing bank (the institution issuing the letter of credit).ypes and Features of Letters of Credit. Most letters of credit are import/export letters of credit which, as the name implies, are used in international trade. The same letter of credit would be termed an import letter of credit by the importer and an export letter of credit by the exporter.