Hii Sir, I Wants to get the Letter of Credit of the Punjab National Bank Will you please provide It ?

A letter issued by a bank to another bank (especially one in a different country) to serve as a guarantee for payments made to a specified person under specified conditions.


Types of the Credit Letter

Import/export — The same credit can be termed an import or export LC[5] depending on whose perspective is considered. For the importer it is termed an Import LC and for the exporter of goods, an Export LC.

Revocable — The buyer and the bank that established the LC are able to manipulate the LC or make corrections without informing or getting permissions from the seller. According to UCP 600, all LCs are irrevocable, hence this type of LC is obsolete.

Irrevocable — Any changes (amendment) or cancellation of the LC (except it is expired) is done by the applicant through the issuing bank. It must be authenticated and approved by the beneficiary.

Confirmed — An LC is said to be confirmed when a second bank adds its confirmation (or guarantee) to honor a complying presentation at the request or authorization of the issuing bank.

Unconfirmed — This type does not acquire the other bank's confirmation.
Restricted — Only one advising bank can purchase a bill of exchange from the seller in the case of a restricted LC.

Unrestricted — The confirmation bank is not specified, which means that the exporter can show the bill of exchange to any bank and receive a payment on an unrestricted LC.


Required Documents
The documents that the issuing bank will accept are specified in the letter of credit, but may often include:

Bills of exchange
Invoices
Government documents such as licenses, certificates of origin, inspection certificates, embassy legalizations, and phytosanitary certificates
Shipping and transport documents such as bills of lading and airway bills
Insurance policies or certificates, except cover notes

Punjab National Bank Letter Of Credit