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i need a good explanation about bank letter of credit L/C?


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Old 06-14-2008, 01:35 AM
export export is offline
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Default i need a good explanation about bank letter of credit L/C?

documentation For ELC And ILC The Terms and Kinds
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Old 06-14-2008, 01:35 AM
Bean Bean is offline
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Default i need a good explanation about bank letter of credit L/C?

If you are a purchaser, Letters of credit are arrangements you make with your bank to pay your supplier when they provide the bank with proof of delivery.

Suppliers rely on thhis to ensure that they get their money from their customers. It is mostly used in foreign trade, where credit risk is relatively high.
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