Letter of credit - A reliable payment method in trade

Letter of creditA reliable payment method in trade

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What is a letter of credit?

A letter of credit is a documentary financial instrument that guarantees payment to the seller in international and local trade operations when goods are shipped or services are provided

What is a letter of credit?
For the seller Risk is minimal because payment is not made until goods and documents are presented

For the seller

Risk is minimal because payment is not made until goods and documents are presented

For the buyer The buyer is not forced to pay before the goods are shipped, documents must be submitted

For the buyer

The buyer is not forced to pay before the goods are shipped, documents must be submitted

For both seller and buyer The payment process is based on international rules and provides additional security for both buyer and seller

For both seller and buyer

The payment process is based on international rules and provides additional security for both buyer and seller

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