Hyderabad, Mumbai, Bengaluru, Ahmedabad

Here is all you need to know about the letter of credit

Hyderabad, Mumbai, Bengaluru, Ahmedabad

It is a letter from a bank guarenteeing buyer's payment to the seller

Hyderabad, Mumbai, Bengaluru, Ahmedabad

Types of letter of credit

Hyderabad, Mumbai, Bengaluru, Ahmedabad

A commercial letter of credit, standby letter of credit, confirmed letter of credit

Hyderabad, Mumbai, Bengaluru, Ahmedabad

To apply the buyer and the seller selects the bank

Hyderabad, Mumbai, Bengaluru, Ahmedabad

The seller will receive the letter of credit from the secondary bank

Hyderabad, Mumbai, Bengaluru, Ahmedabad

Assurance about the payment is given and the goods are shipped

Hyderabad, Mumbai, Bengaluru, Ahmedabad

The seller will recieve the receipt of bill as the proof of shipment of products

Hyderabad, Mumbai, Bengaluru, Ahmedabad

After presenting the bill to the issuing bank the seller will receive the payment

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