select bank to open L / C Company can open L / C in any bank account naoma company. depending on type of L / C or ma customer request the company will choose the bank meets prestigious eligible international transactions in procedures for opening L / C: The company papermaking open L / C with love letters of credit for payment of the bank in the form and send it to the bank. to open an L / C Banks usually based on the following characteristics: the characteristics of the goods exported: the financial capacity of the prestigious open L / C: Manufacturing business situation of an open practice L / C
cost of opening L / C: the cost to the exporter, they will pay a lot of bills cost of L / C by the exporter usually increases in some common cases following:
L / C does not be paid immediately; letter of credit transactions have more than 2 banks involved; exporters asked to confirm a letter of credit; us from inconsistency. or the need to add or modify.
Method of payment prepaid money transfer:
this payment method specified by the buyer (importer) is obliged to pay to the seller (exporter) all prices tri or a portion of the contract value on a specified date prior to delivery.
the method documentary collection (D / P: delivery of Docuement AgainstPayment):
After shipping, the seller sends the goods vouchers together with the draft (Bill of Exchange, also known as draft) to his bank for collection (Remitting bank). The bank may use its agents through a bank or other bank account in the buyer's country (Collecting bank) to carry out the collection of money each. Collecliflg bank will send copies of the documents and bills to the buyers. Vouchers accepted for collection, the buyer will sign up to accept the draft and send it back to the bank for collection.
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