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Letters of Credit

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Letters Of Credit Funding
Letter of Credit

An example of a Letter of Credit in PDF format*

This is a typical example of an Irrevocable Letter of Credit, issued abroad in favour of an UK Exporter and payable in London.

The Exporter should remember to check the reverse of the LC as further terms and conditions may be included there. Exporters should also ensure that they could comply with the LC terms before shipping goods.

Letters of Credit can be opened in either sterling or foreign currency, depending on the currency of the invoice. From the point of view of the UK exporter, sterling is a convenient currency, but overseas Importers may prefer to be invoiced in their own currency. If this is the case, the Exporter will need to consider protection against any potential loss due to fluctuations in foreign exchange rates during the period of the transaction.

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