Who is the applicant in a letter of credit?
The applicant is the party that asks its bank to issue the letter of credit, normally the importer. The applicant reimburses the issuing bank once the bank has paid against complying documents.
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The applicant is the party that asks its bank to issue the letter of credit, normally the importer. The applicant reimburses the issuing bank once the bank has paid against complying documents.
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