The utilization of an Irrevocable Letter of Credit (LC) serves as a financial instrument that empowers organizations, particularly those classified as small and medium-sized enterprises (SMEs), to participate in global commerce with a sense of assurance. Small and medium-sized enterprises (SMEs) have the potential to enhance their market penetration and augment commercial prospects by ensuring prompt and secure payment transactions.
Tags: Irrevocable Letter of Credit, Standby Letter of Credit,