{"@context":"https://schema.org","@type":"DefinedTerm","name":"Letter of Credit (LC) in Freight Transactions","description":"A Letter of Credit (LC) is a payment undertaking issued by a bank on behalf of an importer, guaranteeing the exporter will receive payment provided the stipulated documents are presented within the agreed timeframe. In freight transactions, these documents typically include a bill of lading, a commercial invoice, and a packing list – the exact requirements are specified in the LC itself. The buyer pays only against documentary proof of shipment; the seller bears no credit risk from the buyer, as","inDefinedTermSet":{"@type":"DefinedTermSet","name":"Frachtportal Logistics Glossary","url":"https://www.freight-academy.com/en/glossary"},"url":"https://www.freight-academy.com/en/glossary/letter-of-credit-lc-in-freight-transactions","inLanguage":"en","dateModified":"2026-06-25T14:49:33.130315","citation":"https://iccwbo.org/business-solutions/ucp-600/","markdownMirror":"https://www.freight-academy.com/api/md/glossary/en/letter-of-credit-lc-in-freight-transactions","provider":{"@type":"Organization","name":"Frachtportal","url":"https://www.freight-academy.com"},"quickSummary":"Letter of Credit (LC) in Freight Transactions · A Letter of Credit (LC) is a payment undertaking issued by a bank on behalf of an importer, guaranteeing the exporter will receive payment provided the stipulated documents are presented within the agreed timeframe. · Quelle: https://iccwbo.org/business-solutions/ucp-600/"}