11.6.1 Agreeing to Use a Letter of Credit for Paym...

11.6.1 Agreeing to Use a Letter of Credit for Payment同意使用信用证付款

If you want to use a letter of credit as the payment method,you need to negotiate with the importer and have him/her agree to use it for your transaction.If the importer consents,specify it in your sales contract.

Figure 11-3 An Overview of The Transaction Under a Letter of Credit

(reference:http://www.pocib.com/baike/%E5%B1%A5%E7%BA%A6%E6%B5%81%E7%A8%8B.html)

Figure 11-4 An Exporter’s Task Under a Letter of Credit Transaction