Introduction
Letter of Credit (LC) is an undertaking provided by the bank in order to facilitate trade settlement, and LC is used primarily in international trade of transaction between a supplier and a purchaser.
Features and Benefits
- Enhance client's credit standing by providing payment assurance in the form of Letter of Credit.
- Payment will only be made when documents presented are complied with LC terms.
- Better opportunity to negotiate with the supplier for better credit terms and pricing.
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