IMPACT OF LETTER OF CREDIT ON CUSTOMER SATISFACTION

To overcome business of overseas opponents it has be come mandate for every individual engaged business of trade on the global frontiers to offer lucrative mode of payment to consumers. Receiving timely and total payment is a definite objective behind trade.Choosing the relevant mode of payment by mitigating risk and delivering the goods in healthy condition is win ?win situation for both the participants engaged in trade. Letter of credit is amongst the one which is most acceptable and protected tool to carry out the overseas and domestic trade. Letter of credit is promissory note delivered by the bank to the individual receiving t he goods on behalf of the sender.