Preview Letter of Credit L1: Basic Concepts & Fundamentals

Introduction

5679

Defintion of Letter of Credit

5680

Parties involved in LC

5681

Parties to LC

5708o

UCPDC

5682

Advantages

Advantages of LC for Buyer

5684

Issue of LC

5709o

Types of LC

Inland LC & Foreign LC

5710O

Sight LC

5711O

Usance LC

5712o

Revocable & Irrevocable LC

5713o

Confirmed LC

5714o

Back to Back Letter of Credit

5715o

Transferrable Letter of Credit

5716o

Red Clause Letter of Credit

5717o

Green Clause Letter of Credit

5718o

Stand by Letter of Credit

5719

Revolving Letter of Credit

5720o

Key Matters

Documents under LC

5722o

Credit Implication of Letter of Credit for Bankers

5723

Risks associated with Opening Import LC

5724

LC from Exporter Point of View

5725