How to Create a Letter of Credit Process

Understanding, creating and applying Letter of Credit process for export and import actions in International Trade. A Letter of Credit (LC) is a financial instrument widely used in international trade transactions. It serves as a guarantee from a buyer’s bank to a seller that payment will be made under the terms of the agreement, provided that the seller meets specified conditions outlined in the LC. Creating a robust LC process is crucial for ensuring smooth transactions and mitigating risks. This mini-course will guide you through the essential steps of establishing an effective LC process.