BACK-TO-BACK LETTERS OF CREDIT
Two letters of credit (LCs) utilized together to aid a merchant in financing the buying of services or equipment from a subcontractor. With the authentic LC from the purchaser’s bank in place, the merchant goes to his own bank and has a second LC provided, with the subcontractor as recipient. The subcontractor is thus guaranteed of payment upon reaching the conditions of the contract.
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|---|---|---|---|
| 06:30 | Industrial Production | Jul | |
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| 14:30 | Consumer Price Index | Aug | |
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| 14:30 | Trimmed Core CPI | Aug | |
| 14:30 | Median Core CPI | Aug | |
| 14:30 | Manufacturing Shipments | Jul |
