Letter of Credit/Import Process (Issuance) – Trade Finance

FIN General Ledger, FIN Treasury

1. Letter of Credit (LC): A letter of credit or LC is a document issued by the importer’s bank (opening bank) on importer’s behalf. Through its issuance, the exporter is assured that the issuing bank will make a payment to the exporter for the international trade conducted between both the parties. The importer is the […]

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