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Letter of Credit L/C

Letter of Credit L/C. 1.Customer and supplier agree on L/C as method of payment. Letter of Credit. 2.Customer gives order to open L/C. Letter of Credit. 3.Customer´s bank informs somebody about the opening of L/C. Letter of Credit. 4.Supplier´s bank confirms the credit to the supplier.

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Letter of Credit L/C

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  1. Letter of Credit L/C 1.Customer and supplier agree on L/C as method of payment

  2. Letter of Credit • 2.Customer gives order to open L/C

  3. Letter of Credit • 3.Customer´s bank informs somebody about the opening of L/C

  4. Letter of Credit • 4.Supplier´s bank confirms the credit to the supplier

  5. Letter of Credit • 5.Supplier dispatches the goods

  6. Letter of Credit • 6.Supplier receives the duplicated Bill of Lading

  7. Letter of Credit • 7. Supplier produces Bill of Lading

  8. Letter of Credit • 8.Supplier receives cash or acceptance

  9. Letter of Credit • 9.Supplier´s bank sends shipping documents

  10. Letter of Credit • 10.Customer´s bank hands out the shipping documents

  11. Letter of Credit • 11.Customer presents the documents

  12. Letter of Credit • 12.Goods are released

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