L/C in trade can be divided into several types depending on the agreement and nature of the contract. I will explain the main types of L/C here. I believe it will help you deeply understand L/C and make your business more successful. Now, let ‘s take a quick look! Origin of L/C and documentary L/C L/C (letter of credit) was originally developed from a travel letter of credit. By travelers carry it, they can procure funds from the issuing bank. Commercial L/C have come to be used for commercial transactions as well, and this is now commonly called as L/C. As can be seen from its origin, it can be […]
