Lc full form: Get LC full form

Get LC full form and full name in details. Visit to know long meaning of LC acronym and abbreviations. It is one of the best place for finding expanded names. Guide to what is Full Form Of LC. We explain its features, types, example, elements, importance, advantages & disadvantages. Explore what letters of credit are, their types, costs, and real-world examples to understand their role in facilitating secure international trade. A letter of credit (LC ) is a bank-issued document that affirms the seller. On behalf of the buyer, the bank guarantees payment upon delivery of the goods or services. It is a form of negotiable instrument whereby the buyer makes an unconditional promise to pay. The seller or beneficiary can also transfer the LC to another party to further mitigate their liability. If the buyer doesn't pay the amount, this burden falls upon the issuing bank. Therefore, for issuing LCs, banks charge the buyer ...