Tools for Minimizing Risks in External Trade!!!

Merchantcreditcorp21 Aug, 2021Business

Letter of Credit is an agreement by the importer?s bank known as the Issuing Bank, which promises to pay a stated sum to the beneficiary within the given period once all the conditions mentioned in the Letter Of Credit are met in terms of documents. Here the bank will not deal with goods but only the documents. For importers, a Letter of Credit provides the surety that the buyer will make the payment only after receiving the evidence from the supplier about the shipment of goods.