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c
My answer is: Options a, b, c
Basically, L/C is the documents by which minimum2 banks and2 trading companies bind themselves to achieve a set target of importing goods in acceptable condition from one loading point to other destination port and ensure the payment release to shipper after receiving correct documents.
a) If shipper has any financial limited with any bank, L/C can be used as loan application for lien in bank as collateral / mortgage and receive funds in advance which will be adjusted upon dispatch of shipment, its documents to consignee bank and repatriate of export proceeds in lending bank.
b) Against L/C issued by a first class national or international bank, exporter feels comfortable to dispatch their goods in acceptable condition according to L/C terms for timely payment by L/C opening bank.
c) L/C also serve the purpose of receiving the goods in strict complies of agreed terms and conditions so Importer feel comforts to receive the shipping documents in time after acceptance and payment release.
So, L/C fulfills the need of all parties involved in the transactions for safe, smooth operation of import / export using both sides banks.
Thanks for Valuable Contribution