In UPAS LC instruction is mentioned for the discounting bank where the documents have to be submitted for payment. here’s an example of F78 in UPAS LC: 1)ALL DOCUMENTS MUST BE SENT TO (DISCOUNTING BANK SWIFT) BANK LIMITED, BRANCH, COUNTRY. 2)UPON RECEIPT OF FULL SET OF DOCUMENTS IN STRICT COMPLIANCE WITH THE TERMS AND CONDITIONS OF THE CREDIT TT (Telegraphic Transfer or telex transfer or wire transfer): the transfer of funds from one bank account to another by electronic means. A wire transfer or telegraphic transfer is made when buyer is ready to pay for goods or services received. The transfer is usually irrevocable such as the receiver is protected against a return payment. The full form of SLR is Statutory Liquidity Ratio. SLR is defined as the minimum liquidity percentage that every bank has to maintain with them in order to discharge their liability as and when occurs. This liquidity can be maintained in the form of cash, gold, and other liquid assets. SLR is the amount that commercial banks need to maintain A credit letter is a bank document guaranteeing payment. There are various sorts of credit letters, and they can offer security for the purchase and sale of goods or services. If a buyer does not pay the seller, the bank issuing a credit letter shall reimburse the seller, provided the seller satisfies every criterion in his letter. If you are uncomfortable with the credit rating or country risks of the issuing bank, you can inform the buyer to let us to confirm your LC Simpler Once the documents presented are in order, we will negotiate and convert receivables to cash immediately upon your request A letter of credit works as an assurance given to the exporter that he will be paid by the bank for the trade. iStock. LC is a written document issued by the importer’s bank, on behalf of the importer, to the exporter’s bank. If you are in the business of export and import, you might understand how important it is to build trust. Hello. My name is Ozgur Eker. Since 2009, I am a professional and independent letter of credit consultant from Izmir, Turkey. I have a bachelor's degree in business administration and master's degree in international trade and finance; awarded with CDCS (Certified Documentary Credit Specialist) two times between (2010-2013) and (2013-2016). Standby Letter of Credit - SLOC: A standby letter of credit (SLOC) is a guarantee of payment issued by a bank on behalf of a client that is used as "payment of last resort" should the client fail B1x4M.