a. L/C brings great benefits to importers such as:
- Only pay when receiving the goods, ensuring peace of mind and avoiding the risk of payment before goods arrival.
- Control the transaction process and exporter compliance with the terms in L/C. If the set of documents is invalid, the importer has the right to refuse payment.
- Get loan support from the bank to pay when due.
b SeABank's deposit rate is very flexible and competitive. For good customer groups, SeABank can remove the requirement for cash deposit from customers.