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?
- khalilkydLv 51 decade agoFavorite Answer
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 .