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1、DiscussdifferencesbetweentheletterofguaranteeandtheletterofcreditSummary:Thearticleshowsthedifferencesbetweentheletterofguaranteeandtheletterofcredit.Thedifferencesmainlyfindexpressioninthedefinition,theessentialcontents,thedebtandresponsibilityofrelationship,thera
2、geofsuit,responsibilityofpayment,thebasicsofclaimreimbursement,relatetothecontract,operatetheobject,thetradecanbeequitytradingornot,thekindsoftheletterofcreditandbank’sletterofguaranteeandsoon.Thoughtheyaremadeonthebank’screditandundertaketheprimaryresponsibility.T
3、hroughcomparingtheletterofguaranteewiththeletterofcredit,wecanclearlyknowtheletterofguaranteeandtheletterofcredit.Andifwegetajobinabank,wecanalsohelppeopletodistinguishthemafterseveraldays.Therefore,it’simportanttoknowthedifferencebetweentheletterofguaranteeandthel
4、etterofcredit.Keywords:Theletterofguarantee,theletterofcredit,bankcreditTherearenineaspectstoexplainthedifferencebetweentheletterofguaranteeandtheletterofcreditasfollow.Firstly,thedefinitionisdifferent.Theletterofcreditaremadeonthebank’screditwiththeissuingbankunde
5、rtakingtheprimaryresponsibilityforpayment,whichpromotesthedevelopmentofinternationaltradebyguaranteetheproceedsaswellasthedocumentsandofferingfinancialfacilitiestobothparties.Theletterofguaranteeiswrittenundertakingissuedbyabankattherequestoftheapplicant,guaranteei
6、ngthattheapplicantwilltakepaymenttothebeneficiarywithinthelimitsofastatedsumofmoneyintheeventofdefaultbytheprincipal.Secondly,theessentialcontentsaredifferent.Theletterofcreditcontainsthreemostimportantparts.Thefirstpartconcludeskindsofcredit,amountinfiguresandword
7、s,number,dateofissue,expirydateandplaceoftheaddress,applicant’snameandaddress,beneficiary’snameandaddress,advisingbank’snameandaddress.Secondpartconcludesbillofexchangeclause,shippingdocumentsclause,goodsclause,transportationclausesandotherorspecialtermsandorcondit
8、ions.Thethirdpartincludestheinstructionstonegotiatingbank,theissuingbank’sundertakingclause,theissuingbank’snameandsignature,thisdocumentarycredi
