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	<title>PressMarts &#124; Printing and Publishing Articles &#38; Blogs &#187; Payment Terms</title>
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		<title>L/C , LOC , Letter of Credit</title>
		<link>http://pressmarts.com/blog/payment-terms/lc-loc-letter-of-credit</link>
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		<pubDate>Sat, 04 Jul 2009 12:40:40 +0000</pubDate>
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				<category><![CDATA[Letter of credit]]></category>
		<category><![CDATA[Payment Terms]]></category>
		<category><![CDATA[L/C]]></category>
		<category><![CDATA[letter of credit]]></category>
		<category><![CDATA[LOC]]></category>

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		<description><![CDATA[Letter of credit
After a contract is concluded between buyer and seller, buyer&#8217;s bank supplies a letter of credit to seller.
Seller consigns the goods to a carrier in exchange for a bill of lading.
Seller provides bill of lading to bank in exchange for payment. Seller&#8217;s bank exchanges bill of lading for payment from buyer&#8217;s bank. Buyer&#8217;s [...]]]></description>
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