Cross Rate
What is Cross Rate? The exchange rate of major international currencies are quoted with reference to their base currencies in London with reference to Pound sterling and in New York…
Foreign Exchange
What is Foreign Exchange? The foreign exchange is defined in different ways, Webster Dictionary as “transferring of funds to settle accounts with firms or residents in a foreign currency.”Encyclopedia Britannica:…
Advance Payment Guarantee
Advance Payment Guarantee A contractor who is awarded a contract may ask for advance payment in order to start the project. The project sponsor will, for this purpose, require an…
Performance Guarantee or Performance Bond
Performance Guarantee or Performance Bond Article 2 of ICC publications 325 defines “Performance Guarantee” as an undertaking given by bank (guarantor) at the request of a supplier of goods or…
Bid Bond
Tender Guarantee or Bid Bonds The Uniform Rules for Contract Guarantee, Article two states that for the purpose of these rules, a “tender guarantee” means an undertaking given by bank…
Shipping Guarantee
Shipping Guarantee The need for such a guarantee arises when the goods have arrived destination before document of the title to goods Bill of Landing, Air waybill etc. Therefor in…
Role of Bond
Role of Guarantees/bonds in international trade A bank guarantee is an irrevocable obligation of a bank to pay a sum of money to the beneficiary in the event of non-performance…
Difference Between Spot Deal and Forward Deal
Spot Deal A spot deal is one where foreign exchange is sold or purchased for immediate delivery or latest delivery within two days. the rate at which such deals are…
Difference between Transferable LC and Back to Back LC
Transferable LC A transferable LC is designated as transferable by the LC issuing bank, under which the beneficiary (first beneficiary) may request the advising bank (the transferring bank) to make…
Difference between Red Clause LC and Green Clause LC
What is Red Clause LC? A Red Clause LC is a documentary credit with a special clause incorporated in it, authorizing the advising bank or the conforming bank to make…
Mortgage Cost
Cost of Mortgage Loan Shopping for loans is definitely not at all a very simple job, in fact, it demands the most efficient thoughtful mind that may make relevant and sound judgments.…
Mortgage Payments
Mortgage Payments The process of a mortgage for a house has been a common practice throughout and it's not all new to the markets. People have been purchasing houses based…
Home Equity Loan and Line of Credit
Mortgage Loans: Making a Worthwhile Selection Taking out a loan has numerous branches; these may vary depending upon the different kinds of factors which may include the purpose of the…
Reverse Mortgage Counseling
Reverse Mortgage Counselor Factors To Consider To Find The Right Reverse Mortgage Counselor The government wants the applicants to complete the session with any of the reputed reverse mortgage counselors before the…
HECM for Purchase
Valuable Ideas to Purchase a Home Using Reverse Mortgage If you are at 62 or still older and you wish to purchase a home, you are likely to end up…