3. Beneficiary
- Beneficiary is the seller of the underlying transaction.
- Beneficiary is the party in whose favor the letter of credit is issued.
- Beneficiary ships the goods as required by the letter of credit and presents presents documents documents as indicated indicated.
- Beneficiary will gets its money from the issuing bank as long as it complies with the letter of credit conditions.
- Beneficiaries prove their compliance to the letter of credit conditions by making complying presentations to the banks.
