Explore what letters of credit are, their types, costs, and real-world examples to understand their role in facilitating secure international trade. Learn what a Letter of Credit (LC) is, its full form , meaning in banking, types like LC at sight, irrevocable LC, and key differences from bank guarantees. Guide to what is Full Form Of LC. We explain its features, types, example, elements, importance, advantages & disadvantages. LC stands for letter of credit, a written document issued by the importer's bank to guarantee payment to the exporter for international trade. Learn about the characteristics, parties, fees, and steps involved in an LC arrangement with a practical example.
