Nate's Food Company (NHMD): JMO, if the alledged incoming company, i...

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Nate's Food Company (NHMD)

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Re: None

Wednesday, 11/08/2023 5:39:32 PM

Wednesday, November 08, 2023 5:39:32 PM

JMO, if the alledged incoming company, if it gets financing, it wouldn't be a standby letter of credit. Imports/exports are done using commercial letter of credits for each shipment that is issued by the buyer to the seller outlining exactly what is being shipped, shipping terms, payment terms (USD or other currency), etc. The seller takes it to their bank and can borrow 80% against the value of the commercial letter of credit. In the case of china, would probably take it a US correspondent bank that has the relationship with Chinese bank issued the commercial letter of credit. FWIW

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