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What are the main procedures of an import L/C agency?

  In the process of foreign trade,Due to differences in countries, policies, etc,There is a great deal of mutual distrust,But to facilitate the transaction,同时,Avoid buyer's fear that the buyer will not deliver the goods according to the contract after the advance payment,The seller is concerned that the buyer will not pay after shipment or shipping documents,Both parties will use a bank as a guarantor for the transaction,Presentation on behalf of collection。
  The general procedure for opening a letter of credit is:
  (1) The import and export parties shall clearly stipulate the payment method of L/C in the sales contract。
  (2) The importer shall apply to the local bank (issuing bank), fill in the application, pay a certain issuing deposit or provide other guarantees, and ask the bank (issuing bank) to issue the L/C to the exporter。
Import letter of credit agent
  (3) The issuing bank shall issue the letter of credit for the beneficiary of the exporter according to the application contents, and notify the exporter of the letter of credit through the correspondent bank or correspondent bank (collectively referred to as the advising bank) where the exporter is located。
  (4) After receiving the shipping documents required by the credit, the exporter shall make payment to the local bank (advising bank or other bank) in accordance with the provisions of the credit。
  (5) The negotiating bank shall indicate the negotiation amount on the back of the L/C after negotiation。
  Around the offline order process including LC payment:
  Foreign trade declaration process analysis
  The letter of credit also includes the maturity information of the draft, clearly indicating whether it is payable at sight or after sight, that is, the time of payment must be determined, otherwise it is invalid, mainly including: sight payment, 30 days, 60 days, 90 days and 120 days。
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