InterNetLC.com
PreShipment
Financing for Exporters.
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eStandby Letter of Credit LSAPL + Data = LSLC Standby Letter of
Credit The Standby Letter of Credit is prepared and issued by the buyer’s bank. The buyer becomes the applicant and the seller becomes the beneficiary of the Amendment. The buyer’s bank is the issuing bank, and the seller’s bank is the advising bank. The beneficiary can claim payment in the event that the principal does not comply with its obligations to the beneficiary. Payment can be realized against presentation of a sight draft and a beneficiary’s statement that the principal has failed to fulfill his obligations. eStandby Letter of Credit Trade Function The eStandby Letter of Credit (LSLC) is the electronic document equivalent of the Standby Letter of
Credit. It is created using the same
information generated by the buyer’s bank.
It is used for electronic presentation to a beneficiary. |