l/c very basic question

[fionawang]

lc is the undertaking of the issuing bank to honour. I would like to ask a very basic question about lc. Is lc just the tool to protect exporter?
in my opinion is not, it also protect importer,what's your opinion then?

[narisa]

dear fionawang
I think lc is protect both of exporter and importer if it issued in base of payment ( not base for non -payment )
rgds

[fionawang]

dear fionawang
I think lc is protect both of exporter and importer if it issued in base of payment ( not base for non -payment )
rgds

Thanks Narisa very much!
I agree with you. This question is because ｔｈａｔ　 I 　ｈａｄ 　ａｎ 　ａｒｇｕｅ 　ｗｉｔｈ 　ｍｙ 　ｂｏｓｓ， ｈｅ　 ａｌｗａｙｓ 　ｔｏｏ 　ｃｏｎｆｉｄｅｎｔ　ａｎｄ 　ｄｏｕｂｔｉｎｇ 　ｍｙ 　ＣＤＣＳ， 　ｗｈｉｃｈ　 ｍａｋｅ 　ｍｅ 　ｔｏｏ 　ｄｅｐｒｅｓｓｅｄ．．．

[berry]

LC protect both exporter and importer given the exporter knows what to present for a complying presentation and importer knows what documents to ask for to protect his interest. don't be so depressed over the comment of your boss. it happens. besides ''boss is always right!"