For the buyer
Payment for the goods only after its actual shipment, confirmed with documentation;
Guaranteed delivery of goods in accordance with the nomenclature and terms, as well as the ability to control the quality of the goods;
The Bank will not make payment if the documents submitted under the letter of credit do not comply with its conditions.
For the seller
Guaranteed receipt of revenue for the shipped goods, regardless of the financial condition of the buyer;
Opportunity to obtain a loan from your bank under a letter of credit opened in his address to finance theproduction of relevant goods or purchase the necessary components.
