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Unformatted text preview: When payment (#5) is due from Furniture Brands International, Inc. (FBI), according to the terms of the Letter of Credit, to the Beneficiary/Exporter, the Issuing Bank advances the payment under FBIs $550,000,000 Revolving Line of Credit and then wires the money to the Advising/Confirming Bank. Once this payment is received by the Advising/Confirming Bank, this bank deposits the payment to the Beneficiary/Exporters deposit account. The sale is now complete....
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This note was uploaded on 08/22/2009 for the course FIN 3310 taught by Professor Potts during the Spring '08 term at Baylor.
- Spring '08
- International Trade