Special types of documentary credit Confirmed Irrevocable Documentary Credit A confirmation of an irrevocable documentary credit by a bank (the confirming bank) upon the authorization or request of the issuing bank constitutes a definite undertaking of the confirming bank, in addition to that of the issuing bank, provided that the […]
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Step of Letter of Credit Opening
Step of Letter of Credit Opening Step One: If any importer wants to open a L/C, the importer is to be a customer of the bank and the importer will maintain a Current Account. Step Two: Importer submits an application requesting for opening L/C for US$. …….. for import of […]
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