Letter of Credit - How the Process Takes Place?

The failure to produce the required documentation on time can nullify the letter of credit

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Small errors in documentation such as spelling mistakes can make a letter of credit invalid, so it's advised to properly check the documentation.

A letter of credit is not a guarantee that seller would receive payment. The issuing bank is authorized to pay only when documents are presented, and all the terms and conditions of the letter of credit have been complied.

Letter of Credit - How the Process Takes Place?

By: Umair Ahmed

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