Credit Letter Example With Date In Virginia
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What is expiry date of Letter of Credit? LC expiry date means the last date to submit the exported documents with bank for negotiation of documents. Here, the exporter need to submit all required documents with bank after export as per the guidelines mentioned in the letter of credit.
How to Write a Letter of Credit Prepare the letter of credit documents, including the credit application, bank instructions, and the credit agreement. Make sure all documents are signed, dated, and include all necessary information. Submit documents to the issuing bank. Confirm that the bank has accepted the documents.
A letter of credit includes terminology similar to “documents must be presented within 10 days after the bill of lading date but within the validity of the letter of credit.” For example, if the shipment took place on January 1, documents must be presented no later than January 11 or the expiration date if earlier.
