Letter of Credit is governed by the “Uniform Customs and Practice for Documentary Letters of Credit” No. 600 of the International Chamber of Commerce (unless stipulated otherwise)
Sign the agreement providing the conditions for payment by the Letter of Credit
Submit to us an application on the Letter of Credit and required documents
Conclude the agreement on the Letter of Credit and ensure the funds on your account or enter into an agreement on the line to use the Letter of Credit and collateral agreements
The bank sends the Letter of Credit to the seller’s bank to communicate it to your partner. After the dispatch of goods and submission of documents to the partner’s bank, we receive these documents from the seller’s bank
If the goods’ delivery documents are compliant with the Letter of Credit we make the payment and deliver the documents to you.