InterNetLC.com
PreShipment
Financing for Exporters.
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eDocumentary Letter of Credit LAPL + Data = LDLC Documentary Letter of
Credit The Documentary Letter of Credit is the conditional
undertaking by the buyer’s bank by which it lends its credit to a buyer to
enable him to finance the purchase of goods.
It authorizes the seller to draw drafts on the bank against presentation
of stipulated documents in strict compliance with the Letter of Credit’s terms
and conditions. The buyer is the
applicant and the seller is the beneficiary of the Letter of Credit. The buyer’s bank is the issuing bank and
reimbursing bank, and the seller’s bank is the advising and negotiating bank. eDocumentary Letter
of Credit Trade Function The eDocumentary
Letter of Credit (LDLC) is the electronic document equivalent of the Documentary
Letter of Credit. It is created using
the same information generated by the buyer’s bank. It is used for electronic issue of a
Documentary Letter of Credit. |