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Who is the applicant in lc docs?

In LC (Letter of Credit) documents, the applicant is the party that requests the issuance of the letter of credit, typically the buyer or importer of goods. They provide the necessary documentation and information to the bank to facilitate the transaction. The applicant is responsible for ensuring that the terms of the LC are met and may also bear the financial obligation to reimburse the bank upon completion of the transaction.


How is a LC in 'SWIFT code' passed on to beneficiary?

A Letter of Credit (LC) in SWIFT code format is transmitted through the SWIFT network, which securely connects financial institutions worldwide. The issuing bank sends a SWIFT message containing the LC details to the beneficiary's bank, encoded with a specific message type (MT) that indicates it's an LC. The beneficiary's bank then receives and processes this message, notifying the beneficiary of the LC's issuance and its terms. This ensures that both banks have a secure and standardized way to communicate important transactional information.


What does LC stand for in LC connector?

LC stands for Lucent Connectors


What is a Usanse LC?

LC for 30,60,90,or 120 days is called Usanse LC


What is a LC opening?

what is lc opening?


What does LC mean?

lc = learning centre


What is the opposite of issuance?

In law we say 'non-issuance'


Difference between Export LC and import lc?

An import LC is one made with reference to the buyer but with an export LC, the LC is changed to that with reference to the Issuing bank. This gives a stronger guarantee of payment to the seller.


What exactly means by LC?

LC is Letter of credit


WHEN IS LC REQUIRED?

What do you mean by the term LC and when it is used


When was LC Perú created?

LC Perú was created in 1993.


When was Geely LC created?

Geely LC was created in 2009.