International Trade Contract Seller Buyer Communicate and Sign contract
L/C and International Trade Contract Seller Buyer Buyer Bank Seller Bank Request L/C Communicate the L/C Confirm L/C Buyer's bank and Seller bank communicate and confirm L/C
Seller deliver the goods to a carrier in exchange for a bill of lading Seller Buyer Buyer Bank Seller Bank Request L/C Communicate the L/C Confirm L/C Carrier BL
Seller provides BL to bank in exchange for payment Seller Buyer Buyer Bank Seller Bank Request L/C Communicate the L/C Carrier BL Payment
Seller provides BL to bank in exchange for payment Seller Buyer Buyer Bank Seller Bank Request L/C Communicate the L/C Carrier BL Payment BL
Seller's bank exchanges bill of lading for payment from buyer's bank. Buyer's bank exchanges bill of lading for payment from the buyer Seller Buyer Buyer Bank Seller Bank Carrier BL Payment BL Communicate BL and L/C Payment
To receive payment, an exporter or shipper must present the documents required by the letter of credit. Typically, the payee presents a document proving the goods were sent instead of showing the actual goods. The Original Bill of Lading (BOL) is normally the document accepted by banks as proof that goods have been shipped. However, the list and form of documents is open to negotiation and might contain requirements to present documents issued by a neutral third party evidencing the quality of the goods shipped, or their place of origin or place. Typical types of documents in such contracts might include: [ ที่มา Wikipedia-http://en.wikipedia.org/wiki/Letter_of_credit
Financial Documents Bill of Exchange, Co-accepted Draft Commercial Documents Invoice, Packing list Shipping Documents Transport Document, Insurance Certificate, Commercial, Official or Legal Documents Official Documents License, Embassy legalization, Origin Certificate, Inspection Certificate, Phytosanitary certificate Transport Documents Bill of lading (ocean or multi-modal or Charter party), Airway bill, Lorry/truck receipt, railway receipt, CMC Other than Mate Receipt, Forwarder Cargo Receipt, Deliver Challan...etc Insurance documents Insurance policy, or Certificate but not a cover note.