
In the intricate world of international trade, LC payment and ensuring the delivery of goods are paramount concerns for both exporters and importers. One of the most reliable financial instruments that facilitate this process is the Letter of Credit (LC). This blog will explore what an LC is, how it works, its types, and its benefits and drawbacks, providing a comprehensive understanding of this crucial payment method. What is a Letter of Credit (LC)? A Letter of Credit (LC) is a financial document issued by a bank or a financial institution that guarantees the payment to the seller (exporter) on…