Letter of credit

mehul (Querist) 20 March 2012 This query is : Resolved
Is letter of credit is the safest way to export, in this supplier get guarantee that he will get payment from buyer, what precaution should be taken. Kindly advise.

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ajay sethi (Expert) 20 March 2012
have irrevocable letter of credit opened of a nationalised bank only .

please note that if there are discrepanices no payment will be made by the bank

Raj Kumar Makkad (Expert) 20 March 2012
This site is not meant for such purpose. Any free advice on such mattes may create danger for you.

Guest (Expert) 20 March 2012
LC is the best option for an exporter.

Sankaranarayanan (Expert) 20 March 2012
Yes lc is the protection shild for supplier. Very rare case only gone negative and it purely because of discription of business

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