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Posts Tagged LC

How to Get a Letter of Credit (LC)

How to Get a Letter of Credit (LC)

A letter of credit is essentially a promissory note from your bank for an exporter. It is used to build trust in business relationships, especially with internal business transactions. For instance, a foreign buyer might apply for a letter of credit from a seller’s bank (applicant) to send to the exporter’s bank (beneficiary). The two banks in the transaction act

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