Tag: Banking

Why it is important to follow International Standard Banking Practice (ISBP 745) for LC (Letter of Credit) Payment Request?

Posted on | By Rohitashva Singhvi | 1 comment
LC Payments from around the world

International Standard Banking Practice (ISBP 745) is a set of guidelines established by the International Chamber of Commerce (ICC) to provide guidance on the interpretation of the Uniform Customs and Practice for Documentary Credits (UCP 600) in the context of documentary credit transactions. Following the ISBP 745 guidelines is important for LC payment requests for […]

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What is Letter of Credit & How to get it financed?

Posted on | By Rohitashva Singhvi | No comments
Letter of Credit by Rohitashva Singhvi

What is LC (Letter of Credit)? “LC” typically stands for “Letter of Credit.” A Letter of Credit is a document issued by a bank that guarantees payment to a seller for goods or services, provided that certain conditions are met. Essentially, the bank acts as an intermediary between the buyer and the seller, ensuring that […]

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