in whose favour a credit is issued.
Complying presentation means a presentation that is in accordance with the terms andconditions of the credit, the applicable provisions of these rules and international standard banking practice.
Confirmation means a definite undertaking of the confirming bank, in addition to that of the issuing bank, to honour or negotiate a complying presentation.
conditions are met (like need for adjustment for inflation), while others prefer not to use a preset formula and change exchange rate frequently to discourage speculations.
• Exchange rate within crawling band
It permits exchange rate of one’s currency moves within fixed band from the exchange rate standard in the short term.
Periodically, it adjusts the exchange rate standard so it p
conditions surrounding our industry is changing rapidly. Globalization such as the launch of the WTO, the European Common Market and the foundation of the North American free trade zone is already affecting our economy. the term 'Borderless World Market', is not unfamiliar to us anymore. In order to survive in these environmental changes, the companies must have their own unique marketing strateg
standards towards an expected loss (EL) approach. The Committee strongly supports the initiative of the IASB to move to an EL approach. The goal is to improve the usefulness and relevance of financial reporting for stakeholders, including prudential regulators. It has issued publicly and made available to the IASB a set of high level guiding principles that should govern the reforms to the replac
and some countries were permitted increases.
Green Car Technologies
Hybrid
The hybrid car has two power sources – an engine and a secondary cell. These sources work respectively or simultaneously according to the driving condition to increase efficiency. Hybrid cars run on battery power at low speeds and switch to traditional internal-combustion at higher speeds. Since the capabili