Letter of Credit Advising is a service provided by Standard Chartered Bank whereby an Issuing Bank, on behalf of the Applicant or Importer (bank‟s customer‟s customer) duly transmits a Letter of Credit by SWIFT, authenticated telex or dispatches, or by mail or courier to Standard Chartered Bank. Standard Chartered Bank will check the LC for its authenticity. If deemed authentic, Standard Chartered Bank will then notify it‟s customer to collect the said Letter of Credit.
Typically, a Letter of Credit collection is presented under the following conditions:
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