"Where Everyone Has an MBA"
Tel: (612) 246-4616
Tel: (612) 246-4616
SPOT COMMODITY is a commodity traded with the expectation that it will actually be delivered to the buyer, as contrasted with to a FUTURES CONTRACT that will usually expire without any physical delivery actually taking place. Spot commodities are traded in the SPOT MARKET.
UN-CREDITED CHECK is a check that has been presented to the bank but still are under process by the bank. The customer account has been debited already.
STANDBY LETTER OF CREDIT is a guarantee of payment. If the beneficiary does not get paid from its customer it can then demand payment from the customers Bank by forwarding the copy of the invoice that was not paid along with predetermined supporting documentation.
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