DIAGRAM 1

FOR A UK EXPORTER	FOR A UK IMPORTER
(Export credit, or inward credit to the exporter and the advising bank)	(Import credit, or outward credit to the importer and the issuing bank)
FOREIGN BUYER’S COUNTRY	Foreign buyer	asks for	IMPORTER’s COUNTRY (UK)	UK importer	asks for
	Issuing bank	to issue a letter of credit and instruct		Issuing bank	to issue a letter of credit and instruct
EXPORTER’s COUNTRY (UK)	Advising bank (which also be a confirming bank)		FOREIGN SUPPLIER’S COUNTRY	Advising bank (which also be a confirming bank)
		to advise the			to advise the
	Exporter			Foreign supplier

who must then present documents to the advising bank after shipment, in accordance with the terms of the letter of credit. If this is done, the issuing bank (and the con­firming bank, if there is one) guarantees payment to the exporter/supplier. Payment will be arranged by one of the following methods:

(1) immediate payment;

(2) deferred payment;

(3) acceptance; or

(4) negotiation.

Дата добавления: 2015-09-07