Hi All,
Can anyone teach me about Export products such as (Export LCS,GTEES,PCL and etc..)
Thanks
Ushani
EXPORT LCS
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Ushani
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syifabrina
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Re: EXPORT LCS
Hi,
An LC, also referred to as a documentary credit, is a contractual agreement whereby the issuing bank (importer’s bank), acting on behalf of its customer (the importer or buyer), promises to make payment to the beneficiary or exporter against the receipt of “complying” stipulated documents.
LC imports and exports are the same product only seen on which where LC is processed. It is called Import LC when the parties involved are the applicant and issuing bank, if the LC has been forwarded to the advising bank and given to the beneficiary (exporters) then it is called the Export LC.
And for guarantees, could you please specify the product? Because there are a lot of guarantees type such as bid bond, payment bond, etc.
Regards,
Brina.
An LC, also referred to as a documentary credit, is a contractual agreement whereby the issuing bank (importer’s bank), acting on behalf of its customer (the importer or buyer), promises to make payment to the beneficiary or exporter against the receipt of “complying” stipulated documents.
LC imports and exports are the same product only seen on which where LC is processed. It is called Import LC when the parties involved are the applicant and issuing bank, if the LC has been forwarded to the advising bank and given to the beneficiary (exporters) then it is called the Export LC.
And for guarantees, could you please specify the product? Because there are a lot of guarantees type such as bid bond, payment bond, etc.
Regards,
Brina.