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How do you get LC from bank?
To obtain a Letter of Credit (LC) from a bank, you typically need to submit an application along with relevant supporting documents, such as a sales contract and any required financial information. The bank will review your application and assess your creditworthiness before issuing the LC. Once approved, the bank will provide the LC to the beneficiary, ensuring payment as long as the specified terms and conditions are met. It's important to understand the fees and terms associated with the LC beforehand.
Can third party open LC on seller on behalf of buyer what is the procedure?
A third party can open the LC on the seller. This part of the transaction must be done on behalf of the buyer.
What is the difference between usance and deferred payment LC?
Ah, what a lovely question! Usance and deferred payment LCs both involve payment terms in trade transactions, but there's a subtle difference. Usance LC allows the buyer a specific period after receiving the goods to make the payment, while deferred payment LC allows the buyer to make the payment at a later date agreed upon in the LC. Both methods offer flexibility and trust between the parties involved in the transaction.
Calculation of lc confirmation charges?
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
Parties and their rights and responsibilities of a letter of credit?
All parties dealing with an LC are dealing only with documents not with goods & services.it is exporter's duty to ship the goods as per the LC and submit the documents within the stipulated time for negotiation.
WHEN IS LC REQUIRED?
What do you mean by the term LC and when it is used
What do you mean by LC?
letter of credit
What do the initials LC on the back of a piece of jewelry mean?
LC usually stands for Liz Claiborne.
What does LC mean on a map?
Linen closet
What does LC-MS mean in toxicology?
LC-MS is the abbreviation for Liquid Chromatography - Mass Spectrometry. It is a method for doing analysis.
What does the proofreading mark lc mean?
Lower Case
What does LC stamped on the inside of a ring mean?
It probably refers to a company.
What does Lc at sight mean?
When buyer's bank pays to seller's bank upon receipt of documents and after having verified that documents are meet are requirements written in the lc
What does LC stand for in LC connector?
LC stands for Lucent Connectors
What does the suffix LC mean?
The suffix LC typically stands for "low carbon" and is commonly used to refer to materials containing a low percentage of carbon.
What is a Usanse LC?
LC for 30,60,90,or 120 days is called Usanse LC
What is a LC opening?
what is lc opening?
