What do you mean by the term LC and when it is used
LC stands for Lucent Connectors
LC for 30,60,90,or 120 days is called Usanse LC
what is lc opening?
lc = learning centre
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.
LC is Letter of credit
LC Perú was created in 1993.
Geely LC was created in 2009.
An outward LC is opened on behalf of a customer who wishes to import or buy goods. An Inward LC is opened by a foreign bank in favor of the exporter.
LC business be TAX EXEMPT NO NOT POSSIBLE FOR ANY TYPE OF LC BUSINESS TO BE TAX EXEMPT.
Generally it should be an advance, thru cheque or credit for 30 days, normally LC terms should be avoided as its required lot of formality to discount of an lc and in high sea sale these formalities become more critical. Thanks
LC Smith