Trade & Economic Glossary
Letter of Credit vs T/T: Meaning and How to Choose
A letter of credit pays only if documents match. A wire transfer pays when the buyer sends funds. Compare timing, the 21-day rule, and discrepancy risk.
#UCP 600
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Trade & Economic Glossary
Letter of Credit Meaning: Issuance, Negotiation, and How to Avoid Discrepancies
A letter of credit is a bank promise to pay if documents match. This note covers issuance, presentation, negotiation, and how to avoid mismatches under UCP 600.