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Letter of Credit Demonstration |
| Each of the links below provides a view into how the ec-Finance Letter of Credit application is presented to each of the trading partners. For each Letter of Credit, processed through this system, at least two of the users -- a Buyer and an Issuing Bank -- must be ec-Finance system users. |
| Buyers initiate a Letter of Credit by filling in a form that applies for a Letter of Credit with an Issuing Bank. |
| Issuing Banks work with Buyers to ensure that the Letter of Credit terms & conditions are met then activate the Letter of Credit and wire money to the Seller's Bank. |
| Advising Banks provide the funds to the Seller and ensure that there are no discrepancies between the terms agreed upon and the actual merchandise delivered to shipping. |
| Sellers provide the merchandise and are the beneficiary of the Letter of Credit. |
| The Fast LCs for B2B product is described in this multimedia presentation. |