Accounting Guide

Letter of Credit (LC), LC Types, LC Process

Letter of Credit (LC), LC documents, LC fees Structure, LC Parties, LC Process, and LC Types Explanations

What is a Letter of Credit (LC) Letter of Credit is a Written Document issued by the Importer Bank on behalf of Importer Assures the seller will received his funds upon fulfillment of terms of the Trade A agreement. A guiding principle of an LC is that the issuing bank will make the payment based …

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