EXPLAINED: Sight and Deferred Payments, Acceptance and Negotiation Letters of Credit

Having an understanding of the types of LC availability, and the differences between them, will help the beneficiary formulate the terms of the letters of credit that it would be willing to accept, and to mention such terms in their discussions and sales contracts with their clients. TFG heard from former Head of Product Management Asia, Trade Services and Finance, Société Générale, Tat-Yeen Yap.