Letter of Credit Basics

Understanding main concepts of letters of credit and most frequently used terms related to L/C payments.

letter of credit cuurencies

Letter of Credit Currencies

Used as a medium of exchange for goods and services, currency is the basis of the trade. It is expected that each country has its...
language of letter of credit documents

Language of Letter of Credit Documents

Banks decide whether a presentation is complying or not by only checking the documents under the letters of credit transactions. Banks should be able to...
joker clause letter of credit

How to Handle a Letter of Credit Which Contains a Joker Clause?

"A credit should not require presentation of documents that are to be issued, signed or countersigned by the applicant" says International Standard Banking Practice...

Top 10 Letter of Credit Discrepancies

Discrepancy can be defined as an error or defect, according to the issuing bank, in the presented documents compared to the documentary credit, the...
letter of credit mistakes

5 Biggest Letter of Credit Mistakes

In international trade, there are couple of payment options available such as cash against documents, open account, advance payment and letter of credit. Letter of...
how does an import letter of credit workvideo

How Does an Import Letter of Credit Work in International Trade Transactions?

On this page, I will try to answer the question “How Does an Import Letter of Credit Work?” by explaining the import letter of...

How to Open a Letter of Credit?

On this page, I will try to answer the question "How to open a letter of credit?" by explaining the lc application process  in...
letter of credit issuance fees

How Much Does It Cost to Open a Letter of Credit?

On this page, I will try to explain the letter of credit issuance costs, and the main factors that are effecting them. Letter of credit...
high letter of credit fees and commissions

How to Deal with High Banking Commissions under Letters of Credit?

No matter how many advantages letters of credit have, they have one big disadvantage. They are expensive. As a result, you should understand your costs...
Letter of credit fees

Letter of Credit Fees

Letters of credit have certain advantages as an international payment method. If you have enough knowledge and expertise on letters of credit field, then you...
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