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09:15 Oct 2, 2004
This question was closed without grading. Reason: Answer found elsewhere
English to German translations [PRO] Bus/Financial - Finance (general)
English term or phrase:*operative* L/C
Es geht also um einen letter of credit, der entweder *operative* oder non-operative sein kann. Wer kennt sich da aus?
Subject to contract, the buyer issues a NON-operative "Letter of credit" (LC).
The seller issues a "Performance Bond" (usually at 2%) (PB), which activates the LC. But as to the German....but I hope this helps!