Letters of Credit (LCs) are the safest and often most convenient means of financing trade related transactions. An LC (Documentary or Standby) is a written undertaking given by a bank (Issuing bank) to a beneficiary on instruction from an applicant to pay the beneficiary at sight, or at a determinable future date, a stated amount of money within a defined time of period. This undertaking is conditional upon the beneficiary’s documentary compliance with the terms and the conditions in the LC.
Indeed, when you export or import goods and/or services, you need to control risk of non-payment of your transactions if you are an exporter, or if you are an importer you need to make your international payments secure.
With documentary credit commonly known as L/C (Letter of Credit), choose a secure payment method, bringing together the interest of the importer and the exporter and carry out fully-secure international transactions.
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