Marani Brands Inc. (MRIB)

[Sooth_Sayer]

Brazil deal sealed. For those that don't know a letter of credit is used in international transactions to ensure that payment will be received. Due to the nature of international dealings the use of letters of credit has become a very important aspect of international trade. The bank also acts on behalf of the buyer (holder of letter of credit) by ensuring that the supplier will not be paid until the bank receives a confirmation that the goods have been shipped. Letters of credit are irrevocable and cannot be amended or canceled without mutual consent of all parties.