<P> In modern business practice , a letter of credit ( LC ) also known as a Documentary Credit , is a written commitment by a bank issued after a request by an importer ( foreign buyer ) that payment will be made to the beneficiary ( exporter ) provided that the terms and conditions stated in the LC been met , as evidenced by the presentation of specified documents . </P>
<P> In modern business practice , a letter of credit ( LC ) also known as a Documentary Credit , is a written commitment by a bank issued after a request by an importer ( foreign buyer ) that payment will be made to the beneficiary ( exporter ) provided that the terms and conditions stated in the LC been met , as evidenced by the presentation of specified documents . </P>
what is the meaning of lc in banking
what is the meaning of lc in banking
letter of credit
letter of credit