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1.Customer and supplier agree on L/C as method of payment

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Presentation on theme: "1.Customer and supplier agree on L/C as method of payment"— Presentation transcript:

1 1.Customer and supplier agree on L/C as method of payment
Letter of Credit L/C 1.Customer and supplier agree on L/C as method of payment

2 Letter of Credit 2.Customer gives order to open L/C

3 Letter of Credit 3.Customer´s bank informs somebody about the opening of L/C

4 Letter of Credit 4.Supplier´s bank confirms the credit to the supplier

5 Letter of Credit 5.Supplier dispatches the goods

6 Letter of Credit 6.Supplier receives the duplicated Bill of Lading

7 Letter of Credit 7. Supplier produces Bill of Lading

8 Letter of Credit 8.Supplier receives cash or acceptance

9 Letter of Credit 9.Supplier´s bank sends shipping documents

10 Letter of Credit 10.Customer´s bank hands out the shipping documents

11 Letter of Credit 11.Customer presents the documents

12 Letter of Credit 12.Goods are released

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