国际商务函电：Chapter 8.pptVIP

1. Overview Letter of credit (L/C) is one of the safest payment methods commonly adopted in international trade. It is a payment undertaking given by a bank to a beneficiary and is issued on behalf of the applicant. It allows buyers to offer secure terms of payment to sellers in which a bank (or more than one bank) gets involved. This method provides a solution to solve the dilemma between the seller and the buyer, and ensures a smooth business transaction across different countries. 2. The Features of the L/C： (1) L/C is based on bank credit, which provides a high level of protection an