The negotiation process of Letters of Credit of IFIC Bank Ltd.
This internship report is submitted in a partial fulfillment of the requirements for the degree of Bachelor of Business Administration,2013.
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| Μορφή: | Internship report |
| Γλώσσα: | English |
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BRAC University
2014
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| Διαθέσιμο Online: | http://hdl.handle.net/10361/2845 |
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10361-28452019-09-30T03:40:49Z The negotiation process of Letters of Credit of IFIC Bank Ltd. Rahman, Rajia Kamal, Shawkat BRAC Business School, BRAC University Business administration This internship report is submitted in a partial fulfillment of the requirements for the degree of Bachelor of Business Administration,2013. Cataloged from PDF version of Internship report. Includes bibliographical references (page 62). To survive competitively in the market any business whether it is production or service oriented should make their product and services more diversified. Responding to the market demand IFIC Bank Dhanmondi Branch opens a huge amount of Letters of Credit every year. L/C is a major income source of the bank which is a long process and need lot of documentation. That is why I have decided to prepare my internship report on the Negotiation Process of Letters of Credit. This report has been conducted to find out the overall procedure of L/C by considering two real companies. As IFIC Dhanmondi Branch is one of the big branches and located in a lucrative commercial position a big number of clients come here. So the number of transaction in each department is high. There are three department—General Banking (GB), Credit and Foreign Exchange (FOREX). In GB client oriented transaction number is more than other department where credit and FOREX do a lengthy task but the direct involvement of client is not that much as GB. The most full of activity department is the foreign exchange where a single task is required lengthy time to complete whereas other department can do the same task within one third time of the foreign exchange. Due to the critical nature of the process of Letters of credit, the whole process takes more than three months to complete a single L/C. So in compare to other department there is no specific day closing of foreign exchange but they do monthly closing and send that information to the head office of IFIC bank and Bangladesh Bank at the beginning of each month. During the negotiation process of L/C the modern technology which is worldwide recognized is used named SWIFT. By using SWIFT any countries authorized dealer or a.d. bank can do transaction with any other country of the world. SWIFT is the electrical medium to transfer the confidential information of importer and exporter. However paper documentation is needed for L/C which is sent to the desired party by courier. By the money transfer the L/C process summed up and IFIC bank can calculate the final income from a single L/C. Rajia Rahman B. Business Administration 2014-01-26T09:46:28Z 2014-01-26T09:46:28Z 2013 2013-08-18 Internship report ID 09104036 http://hdl.handle.net/10361/2845 en BRAC University Internship reports are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. 62 pages application/pdf BRAC University |
| institution |
Brac University |
| collection |
Institutional Repository |
| language |
English |
| topic |
Business administration |
| spellingShingle |
Business administration Rahman, Rajia The negotiation process of Letters of Credit of IFIC Bank Ltd. |
| description |
This internship report is submitted in a partial fulfillment of the requirements for the degree of Bachelor of Business Administration,2013. |
| author2 |
Kamal, Shawkat |
| author_facet |
Kamal, Shawkat Rahman, Rajia |
| format |
Internship report |
| author |
Rahman, Rajia |
| author_sort |
Rahman, Rajia |
| title |
The negotiation process of Letters of Credit of IFIC Bank Ltd. |
| title_short |
The negotiation process of Letters of Credit of IFIC Bank Ltd. |
| title_full |
The negotiation process of Letters of Credit of IFIC Bank Ltd. |
| title_fullStr |
The negotiation process of Letters of Credit of IFIC Bank Ltd. |
| title_full_unstemmed |
The negotiation process of Letters of Credit of IFIC Bank Ltd. |
| title_sort |
negotiation process of letters of credit of ific bank ltd. |
| publisher |
BRAC University |
| publishDate |
2014 |
| url |
http://hdl.handle.net/10361/2845 |
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AT rahmanrajia thenegotiationprocessoflettersofcreditofificbankltd AT rahmanrajia negotiationprocessoflettersofcreditofificbankltd |
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