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Cheque

A Cheque is an order to your bank to pay the stated sum from your account, written on a specially printed paper. It is a negotiable financial instrument unless otherwise stated.

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PAN (Permanent Account Number)

Permanent Account Number is an unique 9 digit number which is issued by the government to all the taxpayers and TDS withholding agents.

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Letter Of Credit ( L/C )

Letter of Credit ( L/C ) is an undertaking issued by a Bank ( Issuing Bank ), on behalf of the buyer ( importer ) to the seller ( exporter ) to pay for goods and services provided that the seller presents documents which comply with the terms and conditions of the Letter of Credit ( L/C ).

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Exchange Rates

Exchange rate is basically determined based on its market demand and supply. However, in some cases it may be determined based on the mutual agreement between the two countries. For example: exchange rate between Nepali and Indian currency is fixed by the mutual agreement between the Government of Nepal and Government of India.

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