Letter of Credit (LC) in Freight Transactions
Quelle: https://en.wikipedia.org/wiki/Letter_of_credit
TL;DR
A Letter of Credit (LC) in freight transactions is a written commitment by a bank, on behalf of the buyer (importer), to pay the agreed freight charges to the seller (exporter) or carrier, provided that the required documents (e.g., bill of lading, commercial invoice, packing list) are presented in compliance with the terms and conditions specified in the LC and …
A Letter of Credit (LC) in freight transactions is a written commitment by a bank, on behalf of the buyer (importer), to pay the agreed freight charges to the seller (exporter) or carrier, provided that the required documents (e.g., bill of lading, commercial invoice, packing list) are presented in compliance with the terms and conditions specified in the LC and within the agreed timeframe. It mitigates payment risk and ensures the seller receives payment only upon presentation of the necessary shipping documents.
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