[무역영어] various functions of letter of credit in international business

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한국외대 무역영어 수업 레포트입니다.수업마다 거의 같은 레포트더라구요. 무역을 전공한 미국인 친구에게 도움을 받으면서 한 숙제라 완벽합니다.

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⑻ Cash Advance Against Letter of Credit
A cash advance against a letter of credit works like back-to-back letters of credit, with the exception that the bank or financing company will issue cash to the suppliers instead of another letter of credit.

Import or Export Letters of Credit typically include several subsidiary documents. The most common of these are:

I Commercial Invoice
a document that describes merchandise, as stated in the Letter of Credit, and lists the costs. In addition to the cost of the merchandise, importers may agree to pay charges involved in shipping the merchandise. The description of the merchandise in the Letter of Credit and the description of the merchandise in the Commercial Invoice must be identical.

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