no
LC confrmation charges is the charges paid to confirmation bank and born by the applicant, normally a confirmaton bank is bank which give the payment on the presentation of documents by applicant,s bank
according to a HSBC bank officer in China, he said the applicant must make payment even if the seller does not deliver the goods, for using the after sight 90 days LC....I do npt agree because what is the point of having UCP600/ICC ? if there is no govern body to safeguard the applicant ?
LC stands for Lucent Connectors
LC for 30,60,90,or 120 days is called Usanse LC
what is lc opening?
lc = learning centre
It means the bank will release your money after they approve your document presentation and get approval from the applicant of the letter of credit. If all documents are included and comply with the instructions of the LC, payment can be released according to the payment schedule (i.e. "Draft at 30 days after ship date").
An import LC is one made with reference to the buyer but with an export LC, the LC is changed to that with reference to the Issuing bank. This gives a stronger guarantee of payment to the seller.
LC is Letter of credit
What do you mean by the term LC and when it is used
LC Perú was created in 1993.