This is a very basic educational query in which you may find your answer from the UCP 500 Article 9 and maybe 10. An alternative is from any book about letter of credit or related articles in our website.
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[edited 9/22/01 4:00:11 PM]
payment terms in l/cs
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payment terms in l/cs
I would recommend the book written by charles del busto " ICC Guide to Documentary Credit Operations" as it provides a sipmle good insight on this basic query.