Lc full form: Letter of Credit ( LC )

Letter of Credit ( LC ). This article aims to provide a comprehensive guide on what LC full form for, its meaning, and how it works. What is Letter of Credit ( LC )? Letter of Credit ( LC ) is the most secured and widely used form of international trade transaction method. An LC is a commitment on behalf of the importer by a bank in the importer’s country that the payment will be made to the exporter if he meets the terms and conditions as stated in the LC . Letter of Credit is a written document by an importer’s bank assuring the seller receives payment on fulfilling agreed terms and submitting LC documents. Explore what letters of credit are, their types, costs, and real-world examples to understand their role in facilitating secure international trade.