{"id":63044,"date":"2021-11-08T10:19:26","date_gmt":"2021-11-08T02:19:26","guid":{"rendered":"https:\/\/jingsourcing.com\/?p=63044"},"modified":"2023-12-21T14:48:17","modified_gmt":"2023-12-21T06:48:17","slug":"b-import-lc-and-export-lc","status":"publish","type":"post","link":"https:\/\/jingsourcing.com\/b-import-lc-and-export-lc\/","title":{"rendered":"Import L\/C &amp;Export L\/C for Global Trades| Tell you What is L\/C"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"63044\" class=\"elementor elementor-63044\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-c164adf elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c164adf\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-0e6419d\" data-id=\"0e6419d\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7a8ebf6 elementor-widget elementor-widget-text-editor\" data-id=\"7a8ebf6\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>If you make international transactions, you may have various <a href=\"https:\/\/jingsourcing.com\/b-international-payment-methods\/\" target=\"_blank\" rel=\"noopener\">international payment methods <\/a>to choose from so that you would be confused and unsure which is the right one for your business. You must hear about the letter of credit among these payment methods and may be confused about what the L\/C is.<\/p><p>This article introduces basic information about the letter of credit, including import L\/C (import letter of credit) and export L\/C (export letter of credit), letter of credit of process and some types of L\/C.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-9230afd elementor-hidden-tablet elementor-hidden-mobile elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"9230afd\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-41ca479\" data-id=\"41ca479\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-26c23b6 elementor-widget elementor-widget-text-editor\" data-id=\"26c23b6\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul><li><a href=\"#c1\">What is the Letter of Credit?<\/a><\/li><li><a href=\"#c2\">Export L\/C &amp; Import L\/C<\/a><\/li><li><a href=\"#c3\">How to Use the Letter of Credit to Make Transactions?<\/a><\/li><li><a href=\"#c5\">Is the Letter of Credit Safe?<\/a><\/li><li><a href=\"#c4\">Advantages and Disadvantages of the Letter of Credit<\/a><\/li><li><a href=\"#c6\">8 Types of Letter of Credit\u00a0<\/a><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4e1fbc1 elementor-hidden-desktop elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4e1fbc1\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-95e3fb0\" data-id=\"95e3fb0\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-cc77622 elementor-widget elementor-widget-text-editor\" data-id=\"cc77622\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul><li><a href=\"#c1\">What is the Letter of Credit?<\/a><\/li><li><a href=\"#c2\">Export L\/C &amp; Import L\/C<\/a><\/li><li><a href=\"#c3\">How to Use L\/C to Make Transactions?<\/a><\/li><li><a href=\"#c5\">Is L\/C Safe?<\/a><\/li><li><a href=\"#c4\">Advantages and Disadvantages of L\/C<\/a><\/li><li><a href=\"#c6\">8 Types of Letter of Credit\u00a0<\/a><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-a9180e5 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"a9180e5\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2059a4e\" data-id=\"2059a4e\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1bab17a elementor-widget elementor-widget-spacer\" data-id=\"1bab17a\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-806ff9d elementor-widget elementor-widget-heading\" data-id=\"806ff9d\" data-element_type=\"widget\" id=\"c1\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What is the Letter of Credit?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cd3b1ed elementor-widget elementor-widget-text-editor\" data-id=\"cd3b1ed\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>A letter of credit is a common payment method used widely in global transactions. When you make business with customers from other countries, you may be worried about payments and goods delivery. As buyers, you worry that the seller won\u2019t deliver goods according to the contract after receiving payments; as sellers, you worry that the buyer won\u2019t send payments after getting goods.<\/p><p>In this case, two banks are needed to be guarantors for both parties to help transactions completed. According to the demands of applicators (usually importers), the bank issues documents in accordance with terms of credit and sends payments at sight or forward. The used documents are the so-called letter of credit. Generally, it is a kind of conditional commitment to pay.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0a31b1e elementor-widget elementor-widget-spacer\" data-id=\"0a31b1e\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-65a9498 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"65a9498\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-0fca440\" data-id=\"0fca440\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3f08a0a elementor-widget elementor-widget-heading\" data-id=\"3f08a0a\" data-element_type=\"widget\" id=\"c2\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Export L\/C &amp;Import L\/C<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8632682 elementor-widget elementor-widget-spacer\" data-id=\"8632682\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-eb3675b elementor-widget elementor-widget-heading\" data-id=\"eb3675b\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">What is Import L\/C?<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b194aec elementor-widget elementor-widget-text-editor\" data-id=\"b194aec\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The import L\/C refers to the documents issued by issuing banks in accordance with applicants (importers) and sent to the beneficiary (exporters). It helps provide credit proof so that importers can take delivery of goods with it.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c73a3b3 elementor-widget elementor-widget-heading\" data-id=\"c73a3b3\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">What is Export L\/C?<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3559508 elementor-widget elementor-widget-text-editor\" data-id=\"3559508\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The export letter of credit is usually regarded as the import letter of credit that the remitting bank receives from the importer and the issuing bank. It provides a series of services for exporters, including credit notice, receiving and sending documents for claiming.<\/p><p>The export L\/C helps exporters be able to ship goods before receiving payments and ensures the payments they receive are consistent with the terms and conditions of the L\/C.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2ff3abb elementor-widget elementor-widget-heading\" data-id=\"2ff3abb\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Differences between Import and Export L\/C<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4c0f1ca elementor-widget elementor-widget-text-editor\" data-id=\"4c0f1ca\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The import letter of credit is issued by the issuing bank of the importer, which is used to claim that the exporter or the seller is the beneficiary. Once the import L\/C has been confirmed by the exporters\u2019 bank, it would become the export L\/C automatically.<\/p><p>For importers, the L\/C ensures that your payments are only made after the exporters ship goods, which means you can keep your cash flow without any advance payment to exporters. It also proves your credibility to the seller.<\/p><p>For exporters, the L\/C is just in case that if the importer cannot pay after you send goods. In this case, the bank will finish the payment, and the L\/C can protect you from legal risks. It can be regarded as the guarantee of your capital to ensure the transaction is completed successfully.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b01ee67 elementor-widget elementor-widget-spacer\" data-id=\"b01ee67\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4befc85 elementor-widget elementor-widget-heading\" data-id=\"4befc85\" data-element_type=\"widget\" id=\"c3\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">How to Use the Letter of Credit to Make Transactions? (Letter of Credit Processing)<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c0bd8d8 elementor-widget elementor-widget-text-editor\" data-id=\"c0bd8d8\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>After understanding the basic concept of L\/C, you may want to know more about how to use the letter of credit to make international transactions. This part will tell you the process of the Letter of credit in detail.<\/p><p>The whole process of the letter of credit mainly includes the following steps:<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9b28b42 elementor-widget elementor-widget-heading\" data-id=\"9b28b42\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Step 1: Issuing a Letter of Credit <\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-02677cb elementor-widget elementor-widget-text-editor\" data-id=\"02677cb\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>When both parties reach a trade agreement and sign the contract, the importer needs to apply for issuing a letter of credit to the issuing bank, which is in favor of the exporter. Then the L\/C would be sent from the issuing bank to the advising bank. The latter one needs to verify the authenticity of the credit and send it to the exporter.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8a4dfa2 elementor-widget elementor-widget-heading\" data-id=\"8a4dfa2\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Step 2: Sending and Processing Documents <\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-48d1038 elementor-widget elementor-widget-text-editor\" data-id=\"48d1038\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>After receiving the credit, the exporter needs to check it and prepare the shipment of the goods according to the contract. The exporter creates and sends documents to the reimbursement bank. The bank sends and processes the documents to the issuing bank for claiming accordingly. In this step, confirming the bank may help it process.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6efbb95 elementor-widget elementor-widget-heading\" data-id=\"6efbb95\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Step 3: Make Payments and Notice Applicants<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e2674b8 elementor-widget elementor-widget-text-editor\" data-id=\"e2674b8\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The issuing bank receives the documents from the reimbursement bank and makes the payments to it. Then it submits bills to the applicant and notices him retire documents.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4b98778 elementor-widget elementor-widget-heading\" data-id=\"4b98778\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Step 4: Take Delivery of Goods and Finish Payments<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-67117d9 elementor-widget elementor-widget-text-editor\" data-id=\"67117d9\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Then the applicants take delivery of goods with the documents. After that, the applicants finish payments to the issue bank.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2ea0760 elementor-widget elementor-widget-image\" data-id=\"2ea0760\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/jingsourcing.com\/wp-content\/uploads\/2021\/11\/letter-of-credit-2-1.jpg\" data-elementor-open-lightbox=\"yes\" data-e-action-hash=\"#elementor-action%3Aaction%3Dlightbox%26settings%3DeyJpZCI6IjEwNDY2MyIsInVybCI6Imh0dHBzOlwvXC9qaW5nc291cmNpbmcuY29tXC93cC1jb250ZW50XC91cGxvYWRzXC8yMDIxXC8xMVwvbGV0dGVyLW9mLWNyZWRpdC0yLTEuanBnIn0%3D\">\n\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"724\" height=\"464\" src=\"https:\/\/jingsourcing.com\/wp-content\/uploads\/2021\/11\/letter-of-credit-2-1.jpg\" class=\"attachment-large size-large wp-image-104663 lazyload\" alt=\"letter-of-credit-2-1\" srcset=\"data:image\/svg+xml,%3Csvg%20xmlns%3D%27http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%27%20width%3D%27724%27%20height%3D%27464%27%20viewBox%3D%270%200%20724%20464%27%3E%3Crect%20width%3D%27724%27%20height%3D%273464%27%20fill-opacity%3D%220%22%2F%3E%3C%2Fsvg%3E\" data-orig-src=\"https:\/\/jingsourcing.com\/wp-content\/uploads\/2021\/11\/letter-of-credit-2-1.jpg\" data-srcset=\"https:\/\/jingsourcing.com\/wp-content\/uploads\/2021\/11\/letter-of-credit-2-1-200x128.jpg 200w, https:\/\/jingsourcing.com\/wp-content\/uploads\/2021\/11\/letter-of-credit-2-1-300x192.jpg 300w, https:\/\/jingsourcing.com\/wp-content\/uploads\/2021\/11\/letter-of-credit-2-1-400x256.jpg 400w, https:\/\/jingsourcing.com\/wp-content\/uploads\/2021\/11\/letter-of-credit-2-1-600x385.jpg 600w, https:\/\/jingsourcing.com\/wp-content\/uploads\/2021\/11\/letter-of-credit-2-1.jpg 724w\" data-sizes=\"auto\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4f518d4 elementor-widget elementor-widget-spacer\" data-id=\"4f518d4\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5f76964 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5f76964\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-44b59eb\" data-id=\"44b59eb\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9fed5f0 elementor-widget elementor-widget-heading\" data-id=\"9fed5f0\" data-element_type=\"widget\" id=\"c5\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Is the Letter of Credit Safe?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ed54946 elementor-widget elementor-widget-text-editor\" data-id=\"ed54946\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Compared to other international payments, like online transfers, the letter of credit is much safer and more reliable. The reason is that no less than two banks are involved in the transaction to provide services and ensure security and safety so that the transaction can be made successfully.<\/p><p>The covering range of L\/C is wide around the world with less limitation of countries and regions. It can narrow the gap between importers and exporters to reduce trade risks and shorten the transaction time. So if your business scale is sizeable, you can trust L\/C.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6c981f2 elementor-widget elementor-widget-spacer\" data-id=\"6c981f2\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-d018615 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d018615\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7cfceca\" data-id=\"7cfceca\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8abdf38 elementor-widget elementor-widget-heading\" data-id=\"8abdf38\" data-element_type=\"widget\" id=\"c4\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Advantages and disadvantages of the Letter of Credit <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fe20bac elementor-widget elementor-widget-spacer\" data-id=\"fe20bac\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f7d46c0 elementor-widget elementor-widget-text-editor\" data-id=\"f7d46c0\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Due to the restrictions of different factors, like countries, regions and currencies, all the international payment methods have various benefits as well as shortages for users. This part explains the advantages and disadvantages of the letter of credit, and we hope you can know it better if it is the right one for you to choose.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e8f4892 elementor-widget elementor-widget-heading\" data-id=\"e8f4892\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Advantages of Letter of Credit<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-82affb3 elementor-widget elementor-widget-text-editor\" data-id=\"82affb3\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul><li>It is safe and reliable for both parties, with various terms and agreement conditions.<\/li><li>L\/C makes transactions guaranteed by banks, helps cross-border transactions between both parties completed successfully.<\/li><li>L\/C reduces the uncertainty of payments from importers and makes exporters more responsible for goods.<\/li><li>It is negotiable for both parties when they sign the contract and designate L\/C as the payment method. Payment conditions can comply with the requirements and demands of both sides.<\/li><li>If there is any trade dispute between both parties, L\/C would help them solve the problem according to the credit agreement before.<\/li><li>L\/C can help develop business and trades established between new partners and expand their market.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3ad2c6a elementor-widget elementor-widget-heading\" data-id=\"3ad2c6a\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Disadvantages of Letter of Credit <\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-44fcc3f elementor-widget elementor-widget-text-editor\" data-id=\"44fcc3f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul><li>This payment method is not suitable for a small amount of business.<\/li><li>Compared to other payment methods, banks would charge higher fees. Extra services or functions of both parties require extra fees as well.<\/li><li>The letter of credit has a period of validity. Within the period, both parties have to complete key parts of the transaction, which sometimes may create a mess.<\/li><li>If there are any changes in conditions or terms of the L\/C, the transaction needs to be delayed inevitably. It may be not quite flexible.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6245c22 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6245c22\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-c500d69\" data-id=\"c500d69\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b40ebb2 elementor-widget elementor-widget-spacer\" data-id=\"b40ebb2\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2ff7231 elementor-widget elementor-widget-heading\" data-id=\"2ff7231\" data-element_type=\"widget\" id=\"c6\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">8 Types of Letter of Credit <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4d8d53a elementor-widget elementor-widget-text-editor\" data-id=\"4d8d53a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>According to various factors and demands of both parties, there are different types of letters of credit. This part will list several common types of L\/C to help you know if the L\/C or which type of it is suitable for your business and transactions.<\/p><p>According to the payment time, L\/C can be divided into sight L\/C and usance L\/C.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b1417ab elementor-widget elementor-widget-heading\" data-id=\"b1417ab\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Sight Letter of Credit (L\/C at Sight)<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-64681b3 elementor-widget elementor-widget-text-editor\" data-id=\"64681b3\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>This letter of credit means that the issuing bank or payee bank immediately makes the payment after receiving the documentary <a href=\"https:\/\/jingsourcing.com\/b-bill-of-exchange\/\" target=\"_blank\" rel=\"noopener\"><span style=\"text-decoration: underline\">draft<\/span><\/a> or the <a href=\"https:\/\/jingsourcing.com\/b-shipping-documents\/\" target=\"_blank\" rel=\"noopener\">shipping document<\/a> consistent with the credit terms.<\/p><p>This type of credit is much timelier compared to other forms of credit.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-dcd663b elementor-widget elementor-widget-heading\" data-id=\"dcd663b\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Usance Letter of Credit <\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c04506e elementor-widget elementor-widget-text-editor\" data-id=\"c04506e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Usance letter of credit (also acceptance credit or time credit) means that the issuing bank or the payee bank receives the documents of credit and then makes the payment with a limited period.<\/p><p>For example, the importer places an order with the exporter and receives goods in one day. The order bill would be delivered with the shipment of goods together. However, if the LC before sets a credit period of a month, the importers don\u2019t need to pay immediately after receiving goods. It means that they can finish the payments within the period.<\/p><p>According to the responsibility standards of issuing banks, letters of credit are divided into two types.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9ba9f30 elementor-widget elementor-widget-heading\" data-id=\"9ba9f30\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Revocable Letter of Credit <\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-db16ab0 elementor-widget elementor-widget-text-editor\" data-id=\"db16ab0\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>This type of credit can be changed at any time by either the buyer (the importer) or the issuing bank without notification to the beneficiary. The changes include amending the terms or cancellation of the letter of credit completely.<\/p><p>There are many reasons for revoking the letter of credit. However, as buyers, you should remember that your reasons must be reasonable, or you would lose your credibility with the sellers invisibly.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-935d5fa elementor-widget elementor-widget-heading\" data-id=\"935d5fa\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Irrevocable Letter of Credit <\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-04d49f6 elementor-widget elementor-widget-text-editor\" data-id=\"04d49f6\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The irrevocable letter of credit only allows change or cancellation by the issuing bank with the application by the buyer and approval by the beneficiary. Without the agreement of both parties, the issuing bank has no right to amend or cancel the credit.<\/p><p>Usually, this type of letter of credit is more common and used more widely than the revocable letter of credit; it can protect the interests of both sides balanced to avoid many troubles.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-24ead55 elementor-widget-divider--view-line_icon elementor-view-default elementor-widget-divider--element-align-center elementor-widget elementor-widget-divider\" data-id=\"24ead55\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon elementor-divider__element\">\n\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-thumbtack\" viewBox=\"0 0 384 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M298.028 214.267L285.793 96H328c13.255 0 24-10.745 24-24V24c0-13.255-10.745-24-24-24H56C42.745 0 32 10.745 32 24v48c0 13.255 10.745 24 24 24h42.207L85.972 214.267C37.465 236.82 0 277.261 0 328c0 13.255 10.745 24 24 24h136v104.007c0 1.242.289 2.467.845 3.578l24 48c2.941 5.882 11.364 5.893 14.311 0l24-48a8.008 8.008 0 0 0 .845-3.578V352h136c13.255 0 24-10.745 24-24-.001-51.183-37.983-91.42-85.973-113.733z\"><\/path><\/svg><\/div>\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-689c2b9 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"689c2b9\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-8e7ee5c\" data-id=\"8e7ee5c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d1d3526 elementor-widget elementor-widget-text-editor\" data-id=\"d1d3526\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>There are also other forms of the letter of credit used widely in common international transactions. Here will list <strong>4 types<\/strong> for your reference.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-78b0a84 elementor-widget elementor-widget-heading\" data-id=\"78b0a84\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Confirmed Letter of Credit <\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2e73c70 elementor-widget elementor-widget-text-editor\" data-id=\"2e73c70\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The confirmed letter of credit means that another bank (confirming bank) other than the issuing bank adds a guarantee to the letter of credit. It gives security that the confirming bank would make the payment in the transaction if the issuing bank fails to finish the payment.<\/p><p>Only the irrevocable letter of credit can be confirmed in transactions. If the exporter doubts the credibility of the first issuing bank, he can require the importer to get the confirmed letter of credit.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b43e6fc elementor-widget elementor-widget-heading\" data-id=\"b43e6fc\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Unconfirmed Letter of Credit <\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b5d05a5 elementor-widget elementor-widget-text-editor\" data-id=\"b5d05a5\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The unconfirmed letter of credit means the credit with no other bank to give security or confirm but only the issuing bank. Usually, in cross-border transactions, this credit is used less than the confirmed letter of credit.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-29d8fa5 elementor-widget elementor-widget-heading\" data-id=\"29d8fa5\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Transferrable Letter of Credit <\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-54b1419 elementor-widget elementor-widget-text-editor\" data-id=\"54b1419\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The transferrable letter of credit means that the beneficiary (the first beneficiary) of the credit can be an intermediary for the sellers of goods or services, or be a group of suppliers, and he can present his credit documents and transfer part or all of the payment to the actual or second beneficiaries.<\/p><p>In this case, the issuing bank needs to indicate \u201ctransferable\u201d clearly in the letter of credit, and the transfer is only allowed once.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8a71d5e elementor-widget elementor-widget-heading\" data-id=\"8a71d5e\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Standby Letter of Credit <\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-25c271f elementor-widget elementor-widget-text-editor\" data-id=\"25c271f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The standby letter of credit is used to ensure the payment commitment of the bank to the exporter when the importer fails to make the payment. It is not used for paying off the number of commercial transactions but for loan financing or debt repayment.<\/p><p>It is more likely to be a legal document, different from general business letters of credit.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0568e15 elementor-widget elementor-widget-spacer\" data-id=\"0568e15\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-61a7959 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"61a7959\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-668ec84\" data-id=\"668ec84\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1fb6ba3 elementor-widget elementor-widget-text-editor\" data-id=\"1fb6ba3\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>The End<\/strong><\/p><p>We hope this article helps you understand import L\/C and export L\/C better. If you want to know more about international payment methods, you can find other articles on our website,<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-94139a3 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"94139a3\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/jingsourcing.com\/b-international-payment-methods\/%20\" target=\"_blank\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-clipboard-list\" viewBox=\"0 0 384 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M336 64h-80c0-35.3-28.7-64-64-64s-64 28.7-64 64H48C21.5 64 0 85.5 0 112v352c0 26.5 21.5 48 48 48h288c26.5 0 48-21.5 48-48V112c0-26.5-21.5-48-48-48zM96 424c-13.3 0-24-10.7-24-24s10.7-24 24-24 24 10.7 24 24-10.7 24-24 24zm0-96c-13.3 0-24-10.7-24-24s10.7-24 24-24 24 10.7 24 24-10.7 24-24 24zm0-96c-13.3 0-24-10.7-24-24s10.7-24 24-24 24 10.7 24 24-10.7 24-24 24zm96-192c13.3 0 24 10.7 24 24s-10.7 24-24 24-24-10.7-24-24 10.7-24 24-24zm128 368c0 4.4-3.6 8-8 8H168c-4.4 0-8-3.6-8-8v-16c0-4.4 3.6-8 8-8h144c4.4 0 8 3.6 8 8v16zm0-96c0 4.4-3.6 8-8 8H168c-4.4 0-8-3.6-8-8v-16c0-4.4 3.6-8 8-8h144c4.4 0 8 3.6 8 8v16zm0-96c0 4.4-3.6 8-8 8H168c-4.4 0-8-3.6-8-8v-16c0-4.4 3.6-8 8-8h144c4.4 0 8 3.6 8 8v16z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">International Payment Methods<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/jingsourcing.com\/b-international-payment-process\/%20\" target=\"_blank\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-clipboard-list\" viewBox=\"0 0 384 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M336 64h-80c0-35.3-28.7-64-64-64s-64 28.7-64 64H48C21.5 64 0 85.5 0 112v352c0 26.5 21.5 48 48 48h288c26.5 0 48-21.5 48-48V112c0-26.5-21.5-48-48-48zM96 424c-13.3 0-24-10.7-24-24s10.7-24 24-24 24 10.7 24 24-10.7 24-24 24zm0-96c-13.3 0-24-10.7-24-24s10.7-24 24-24 24 10.7 24 24-10.7 24-24 24zm0-96c-13.3 0-24-10.7-24-24s10.7-24 24-24 24 10.7 24 24-10.7 24-24 24zm96-192c13.3 0 24 10.7 24 24s-10.7 24-24 24-24-10.7-24-24 10.7-24 24-24zm128 368c0 4.4-3.6 8-8 8H168c-4.4 0-8-3.6-8-8v-16c0-4.4 3.6-8 8-8h144c4.4 0 8 3.6 8 8v16zm0-96c0 4.4-3.6 8-8 8H168c-4.4 0-8-3.6-8-8v-16c0-4.4 3.6-8 8-8h144c4.4 0 8 3.6 8 8v16zm0-96c0 4.4-3.6 8-8 8H168c-4.4 0-8-3.6-8-8v-16c0-4.4 3.6-8 8-8h144c4.4 0 8 3.6 8 8v16z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">International Payment Process<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/jingsourcing.com\/b-international-payment-gateways\/\" target=\"_blank\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-clipboard-list\" viewBox=\"0 0 384 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M336 64h-80c0-35.3-28.7-64-64-64s-64 28.7-64 64H48C21.5 64 0 85.5 0 112v352c0 26.5 21.5 48 48 48h288c26.5 0 48-21.5 48-48V112c0-26.5-21.5-48-48-48zM96 424c-13.3 0-24-10.7-24-24s10.7-24 24-24 24 10.7 24 24-10.7 24-24 24zm0-96c-13.3 0-24-10.7-24-24s10.7-24 24-24 24 10.7 24 24-10.7 24-24 24zm0-96c-13.3 0-24-10.7-24-24s10.7-24 24-24 24 10.7 24 24-10.7 24-24 24zm96-192c13.3 0 24 10.7 24 24s-10.7 24-24 24-24-10.7-24-24 10.7-24 24-24zm128 368c0 4.4-3.6 8-8 8H168c-4.4 0-8-3.6-8-8v-16c0-4.4 3.6-8 8-8h144c4.4 0 8 3.6 8 8v16zm0-96c0 4.4-3.6 8-8 8H168c-4.4 0-8-3.6-8-8v-16c0-4.4 3.6-8 8-8h144c4.4 0 8 3.6 8 8v16zm0-96c0 4.4-3.6 8-8 8H168c-4.4 0-8-3.6-8-8v-16c0-4.4 3.6-8 8-8h144c4.4 0 8 3.6 8 8v16z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">International Payment Gateways<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/jingsourcing.com\/b-faq-about-paypal\/\" target=\"_blank\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-clipboard-list\" viewBox=\"0 0 384 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M336 64h-80c0-35.3-28.7-64-64-64s-64 28.7-64 64H48C21.5 64 0 85.5 0 112v352c0 26.5 21.5 48 48 48h288c26.5 0 48-21.5 48-48V112c0-26.5-21.5-48-48-48zM96 424c-13.3 0-24-10.7-24-24s10.7-24 24-24 24 10.7 24 24-10.7 24-24 24zm0-96c-13.3 0-24-10.7-24-24s10.7-24 24-24 24 10.7 24 24-10.7 24-24 24zm0-96c-13.3 0-24-10.7-24-24s10.7-24 24-24 24 10.7 24 24-10.7 24-24 24zm96-192c13.3 0 24 10.7 24 24s-10.7 24-24 24-24-10.7-24-24 10.7-24 24-24zm128 368c0 4.4-3.6 8-8 8H168c-4.4 0-8-3.6-8-8v-16c0-4.4 3.6-8 8-8h144c4.4 0 8 3.6 8 8v16zm0-96c0 4.4-3.6 8-8 8H168c-4.4 0-8-3.6-8-8v-16c0-4.4 3.6-8 8-8h144c4.4 0 8 3.6 8 8v16zm0-96c0 4.4-3.6 8-8 8H168c-4.4 0-8-3.6-8-8v-16c0-4.4 3.6-8 8-8h144c4.4 0 8 3.6 8 8v16z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">FAQs about PayPal<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/jingsourcing.com\/b-paypal-send-money-internationally\/\" target=\"_blank\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-clipboard-list\" viewBox=\"0 0 384 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M336 64h-80c0-35.3-28.7-64-64-64s-64 28.7-64 64H48C21.5 64 0 85.5 0 112v352c0 26.5 21.5 48 48 48h288c26.5 0 48-21.5 48-48V112c0-26.5-21.5-48-48-48zM96 424c-13.3 0-24-10.7-24-24s10.7-24 24-24 24 10.7 24 24-10.7 24-24 24zm0-96c-13.3 0-24-10.7-24-24s10.7-24 24-24 24 10.7 24 24-10.7 24-24 24zm0-96c-13.3 0-24-10.7-24-24s10.7-24 24-24 24 10.7 24 24-10.7 24-24 24zm96-192c13.3 0 24 10.7 24 24s-10.7 24-24 24-24-10.7-24-24 10.7-24 24-24zm128 368c0 4.4-3.6 8-8 8H168c-4.4 0-8-3.6-8-8v-16c0-4.4 3.6-8 8-8h144c4.4 0 8 3.6 8 8v16zm0-96c0 4.4-3.6 8-8 8H168c-4.4 0-8-3.6-8-8v-16c0-4.4 3.6-8 8-8h144c4.4 0 8 3.6 8 8v16zm0-96c0 4.4-3.6 8-8 8H168c-4.4 0-8-3.6-8-8v-16c0-4.4 3.6-8 8-8h144c4.4 0 8 3.6 8 8v16z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">How to use PayPal to Send Money Internationally<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/jingsourcing.com\/b-what-is-telegraphic-transfer\/%20\" target=\"_blank\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-clipboard-list\" viewBox=\"0 0 384 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M336 64h-80c0-35.3-28.7-64-64-64s-64 28.7-64 64H48C21.5 64 0 85.5 0 112v352c0 26.5 21.5 48 48 48h288c26.5 0 48-21.5 48-48V112c0-26.5-21.5-48-48-48zM96 424c-13.3 0-24-10.7-24-24s10.7-24 24-24 24 10.7 24 24-10.7 24-24 24zm0-96c-13.3 0-24-10.7-24-24s10.7-24 24-24 24 10.7 24 24-10.7 24-24 24zm0-96c-13.3 0-24-10.7-24-24s10.7-24 24-24 24 10.7 24 24-10.7 24-24 24zm96-192c13.3 0 24 10.7 24 24s-10.7 24-24 24-24-10.7-24-24 10.7-24 24-24zm128 368c0 4.4-3.6 8-8 8H168c-4.4 0-8-3.6-8-8v-16c0-4.4 3.6-8 8-8h144c4.4 0 8 3.6 8 8v16zm0-96c0 4.4-3.6 8-8 8H168c-4.4 0-8-3.6-8-8v-16c0-4.4 3.6-8 8-8h144c4.4 0 8 3.6 8 8v16zm0-96c0 4.4-3.6 8-8 8H168c-4.4 0-8-3.6-8-8v-16c0-4.4 3.6-8 8-8h144c4.4 0 8 3.6 8 8v16z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">What is Telegraphic Transfer<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/jingsourcing.com\/b-alibaba-payment\/\" target=\"_blank\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-clipboard-list\" viewBox=\"0 0 384 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M336 64h-80c0-35.3-28.7-64-64-64s-64 28.7-64 64H48C21.5 64 0 85.5 0 112v352c0 26.5 21.5 48 48 48h288c26.5 0 48-21.5 48-48V112c0-26.5-21.5-48-48-48zM96 424c-13.3 0-24-10.7-24-24s10.7-24 24-24 24 10.7 24 24-10.7 24-24 24zm0-96c-13.3 0-24-10.7-24-24s10.7-24 24-24 24 10.7 24 24-10.7 24-24 24zm0-96c-13.3 0-24-10.7-24-24s10.7-24 24-24 24 10.7 24 24-10.7 24-24 24zm96-192c13.3 0 24 10.7 24 24s-10.7 24-24 24-24-10.7-24-24 10.7-24 24-24zm128 368c0 4.4-3.6 8-8 8H168c-4.4 0-8-3.6-8-8v-16c0-4.4 3.6-8 8-8h144c4.4 0 8 3.6 8 8v16zm0-96c0 4.4-3.6 8-8 8H168c-4.4 0-8-3.6-8-8v-16c0-4.4 3.6-8 8-8h144c4.4 0 8 3.6 8 8v16zm0-96c0 4.4-3.6 8-8 8H168c-4.4 0-8-3.6-8-8v-16c0-4.4 3.6-8 8-8h144c4.4 0 8 3.6 8 8v16z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">11 Alibaba Payment Methods for Paying to Suppliers on Alibaba<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-285560d elementor-widget elementor-widget-text-editor\" data-id=\"285560d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>We\u2019re Jingsourcing, a leading sourcing agent in China. If you want to start international trades but don\u2019t have any experience in importing or customizing products from China, please <a href=\"http:\/\/www.jingsourcing.com\" target=\"_blank\" rel=\"noopener\">CONTACT US<\/a> without hesitation!<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>If you make international transactions, you may have various international payment methods to choose from so that you would be confused and unsure which is the right one for your business. You must hear about the letter of credit among these payment methods and may be confused about what the L\/C is. This article introduces [&hellip;]<\/p>\n","protected":false},"author":21,"featured_media":99320,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[96],"tags":[],"class_list":["post-63044","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-amazon-ecommerce"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.6 (Yoast SEO v25.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Import L\/C &amp;Export L\/C for Global Trades| Tell you What is L\/C<\/title>\n<meta name=\"description\" content=\"This article answers definitions of L\/C, import and export L\/C as well as differences, explains how it works, and lists some types of it.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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