What is the benefit to open the L.C. ?

Why should we open the L.C. is there any special benefit to open the L.C.

2 Answers

Relevance
  • 1 decade ago
    Favorite Answer

    L.C = Letter of Credit it is a payment method for overseas. it is good way to make the deal, because it is a reliable payment with the bank as the third party. the way it goes is kinda complex, you can ask the detail on your bank and make sure that your bank is well known bank, because it will make your business partner relieved as well. However not all bank will accept your LC it is depend on your track record and other things...

    • Commenter avatarLogin to reply the answers
  • 6 years ago

    Opening L/C , it could protect your benefit in international trade . If the goods supplied by your supplied is not in accordance with the contract which you reached . You can refused to pay the amount

    • Commenter avatarLogin to reply the answers
Still have questions? Get your answers by asking now.