Application for a Letter of Credit
When the trade agreement is closed, and the payment method identified is by Letter of Credit, the importer, with a proforma invoice form the exporter, contacts a bank in his country and applies for a Letter of Credit. In the application form, the importer identifies terms and instructions as requirements for the exporter to follow in order to get the payment for the goods that the importer has placed on order.
An example of a completed Application Form for Irrevocable Documentary Letter of Credit is show on page 5