Guide to Using a Commercial Letter of Credit for Payment | Practical Law
A Practice Note providing a guide to using a commercial letter of credit for payment in a commercial sale transaction. This Note discusses issues to consider and practical considerations at each step in the letter of credit process. It includes determining whether a commercial letter of credit is the best means of making payment, selecting the terms of the commercial letter of credit, negotiating the reimbursement agreement, and the application, issuance, and payment process.