What Is LC | LC Kiya Hai? | Raftar Explains

Most people don't understand about LC (Letter of Credit). A letter of credit, or a credit letter, is a letter from a bank guaranteeing that a buyer’s payment to a seller will be received on time and for the correct amount. If the buyer is unable to make a payment on the purchase, the bank will be required to cover the full or remaining amount of the purchase. It may be offered as a facility. Due to the nature of international dealings, including factors such as distance, differing laws in each country, and difficulty in knowing each party personally, the use of letters of credit has become a very important aspect of international trade. #LC #import #export #banking #explained #economy #pakistan #india #raftar For more amazing content, SUBSCRIBE NOW! Instagram @raftardotcom   / raftardotcom   TikTok @raftardotcom   / raftardotcom   Facebook: @raftardotcom   / raftardotcom   YouTube    / @raftardotcom   Twitter @Raftardotcom   / raftardotcom   Website: https://raftar.com/ RAFTAR official YouTube Channel.