Step for Opening Letter Of Credit L/C |Export-Import Document Payment

Step for Opening Letter Of Credit L/C |Export-Import
Document Payment

In the last article, I have explained to you about the What Is Letter Of Credit(L/C) now again we will try to go in more deeper and will try to learn Step for Opening Letter Of CreditL/C/Export-Import-Import-Import-Import-Import-Import-Import Document Payment.

IN the context of buying and selling transactions carried out with letters of credit (L/C) as payment

instruments, then if we discuss opening letters of credit (L/C), we must place our position on the IMPORT side and as an importer. This is because the L / C is opened by the importer (also called the applicant or accounted. Other parties involved besides the applicant are the applicant bank (issuing bank/opening bank). The import itself is the activity of bringing goods from outside the customs area of a country into the country's customs territory.

Types Of Letter Of Credit - L / C
1. letter of credit at sight
2. letter of credit bank guarantee
3. letter of credit bill discounting
4. letter of credit Irrevocable
5. letter of credit Revocable
6. Letter Of Credit Revolving
8. Red Clause Letter Of Credit

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