Things To Keep In Mind While Choosing a Letter Of Credit

What Is A Letter Of Credit?

A letter of credit is a legal, written document that guarantees the buyer’s timely & full-fledged payment to the sellers. The buyer’s bank issues it to compensate the seller if the buyer defaults or cannot pay the seller.

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International Letter Of Credit Service Provider

A letter of credit has a vital role in reducing the payment risks for exporters as well as ensuring on-time delivery of ordered goods for importers in international trade transactions as per the mentioned terms in the LC agreement.

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How A Letter Of Credit Helps Importers-Exporters In Global Trade?

An international letter of credit is one of the secure methods of payment in global trade to secure high-value transactions. The issuing bank guarantees an exporter to pay the full-fledged amount for delivered goods/services in the event the importer ie. the applicant is unable to pay or at default to do so.

Read more: https://www.axioscreditbank.com/blogs/how-a-letter-of-credit-helps-importers-exporters-in-global-trade

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