Letter of Credit
Letter of credit is a financial document issued by a bank guaranteeing payment to a seller, provided certain conditions are met. Common in international trade, it protects both buyer and seller by ensuring that funds will be released once shipment or delivery terms are fulfilled.
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Life Cycle Costing
Life cycle costing analyses the total cost of owning, operating, maintaining, and disposing of an asset over its useful life.…
Labour Cost Variance
Labour cost variance measures the difference between the standard labour cost and the actual labour cost incurred. It helps identify…
Loan Covenant
A loan covenant is a condition or restriction set by lenders to ensure borrowers maintain financial discipline. Covenants may require…
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