L/C (letter of credit) – Letter of Credit is one of the documents commonly used in transactions regarding international transport. In the case of international trade, the counterparties may be far away and their faces may not be visible, and risks such as non-payment are particularly concerned when starting new business. L/C is used to reduce the risks to deal with the company in other countries. If there is L/C, the bank that issued it guarantees payment, which makes it a very useful document for smooth transactions with the exporter/importer in overseas. Therefore, it is essential for trade to understand well about L/C. Here we will take a closer look […]