Import Letter of Credit in Thailand: Is it allows the importer to get a better bargain on the prices of imported goods?
Letter of credit is an assurance given by the buyer’s bank to send the amount to the seller through seller’s bank on maturity, according to the terms and conditions of the document based on the contractual agreement between buyer and seller. However, Import Letter of Credit is one of the safest systems of importing goods in Thailand, and it allows the buyers to control shipping dates or facilitates a shipment schedule. If you want to expand your global business with safe payment, then you have to know about import letter of credit in Thailand in details. Carry on reading the upcoming passage to learn more. Documents usually required under an Import letter of credit A bill or draft Commercial invoice Customer invoice Bill of lading Certificate of origin Insurance policy Inspection certificate Advantage of import letter of credit in global business A letter of credit transaction reduces the risk of non-performa