Beneficiary party under Letter of credit

Beneficiary party

 

Beneficiary is one of the main party under letter of credit. The beneficiary of LC is one in whose favour LC is issued and who receives amount under letter of credit. The beneficiary is normally the supplier who has to get the payment from the buyer. Beneficiary party under letter of credit submits all required documents with is bank in accordance with the terms and conditions under LC.

 

 

 

 

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