Letter of Credit clause: T/T reimbursement allowed?

In L/C transactions, very often is the seller demands T/T reimbursement allowed but buyer always not willing, so what exactly is this clause means and why different attitude towards this L/C terms?

2 Answers

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  • 1 decade ago
    Favorite Answer

    Hi,

    L.C. is a commercial contract between the Buyer and

    the Seller . Every clause is normally agreed on before

    the L.C. is drawn by the Buyer's bank . T/T means

    Telegraphic Transfer is a lazy and a simple way of getting

    paid for the goods before shipping .

    Rgds.......................

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  • marven
    Lv 4
    4 years ago

    Tt Reimbursement

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