Letters of credit in simple terms | L/C | Mr. Kishor Bhatt

The Letter of Credit is a very important document when it comes to International Business and International Freight Forwarding. The Letter of Credit is an important method of International Payment Settlement among some other ways such as Collection Bill, Open Account and Advance Payment. Mr. Bhatt goes on to explain what a Letter of Credit is in great detail. It is very important for people working in the Import-Export and Logistics sector to have a clear idea of terms such as Letter of Credit as it plays a crucial role in Customs Clearance and International Business. Watch the video till the end so that you have a comprehensive and all round understanding of the term.