What is ISP98?
In the first place, why Letter of Credit (LC)? What are the other alternatives and why LC is still the highly utilized method to conduct international trade? In this blog, we hope to explain as much technical detail as possible in layman terms. We hope you can easily grasp the concept and apply the knowledge to your operation. What is an LC? A Letter of Credit, which from now onward we shall name its short form - LC, is an undertaking by a bank, called the Issuing Bank - whic