Letter of credit
This query is : Resolved
VIJAY KUMAR
(Querist)
18 January 2012
what documents are required to be submitted in bank to open LC in bank
RAMESH KUMAR VERMA
(Expert)
18 January 2012
Typical Documentation Required:
Bill of Lading (a.k.a. title document, since possession of an original bill of lading is equivalent to having the title of the goods in possession of the holder)
Commercial Invoice
Consular Invoice
Certificate of Origin
Draft (a.k.a. Bill of Exchange)
Export sales contract along with request letter should be presented to your banker.
For more explaining purpose link is:
https://www.eximguru.com/exim/guides/export-finance/ch_3_letter_of_credit_lc.aspx#parties_to_letters_of__credit
Bill of Lading (a.k.a. title document, since possession of an original bill of lading is equivalent to having the title of the goods in possession of the holder)
Commercial Invoice
Consular Invoice
Certificate of Origin
Draft (a.k.a. Bill of Exchange)
Export sales contract along with request letter should be presented to your banker.
For more explaining purpose link is:
https://www.eximguru.com/exim/guides/export-finance/ch_3_letter_of_credit_lc.aspx#parties_to_letters_of__credit
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