{"id":1492,"date":"2025-11-21T07:23:38","date_gmt":"2025-11-21T07:23:38","guid":{"rendered":"https:\/\/letterofcredit.uk\/?p=1492"},"modified":"2026-09-16T07:00:21","modified_gmt":"2026-09-16T07:00:21","slug":"letters-of-credit","status":"publish","type":"post","link":"https:\/\/letterofcredit.uk\/?p=1492","title":{"rendered":"Letters of credit"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">What is a Letter of Credit?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">A letter of credit is an irrevocable undertaking by a bank on behalf of the buyer to make payment in favour of a seller provided the documents presented comply with Letter of Credit terms and conditions.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Why use Letters of credit?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Secure method of settlement &nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Reduce the risk of non- payment for delivered goods<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Once Issued are legally binding<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Irrevocable and cannot be cancelled unless all parties agree<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/atradius.co.uk\/knowledge-and-research\/resources\/letters-of-credit\" rel=\"nofollow noopener\" target=\"_blank\"><\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/atradius.co.uk\/knowledge-and-research\/resources\/letters-of-credit\" rel=\"nofollow noopener\" target=\"_blank\"><\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/atradius.co.uk\/knowledge-and-research\/resources\/letters-of-credit\" rel=\"nofollow noopener\" target=\"_blank\"><\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is a Letter of Credit? A letter of credit is an irrevocable undertaking by a bank on behalf of the buyer to make payment in favour of a seller provided the documents presented comply with Letter of Credit terms and conditions. Why use Letters of credit? Secure method of settlement &nbsp; Reduce the risk [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":555,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[7,8],"class_list":["post-1492","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-letters-of-credit","tag-letters-of-credit-uk"],"_links":{"self":[{"href":"https:\/\/letterofcredit.uk\/index.php?rest_route=\/wp\/v2\/posts\/1492","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/letterofcredit.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/letterofcredit.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/letterofcredit.uk\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/letterofcredit.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1492"}],"version-history":[{"count":6,"href":"https:\/\/letterofcredit.uk\/index.php?rest_route=\/wp\/v2\/posts\/1492\/revisions"}],"predecessor-version":[{"id":2348,"href":"https:\/\/letterofcredit.uk\/index.php?rest_route=\/wp\/v2\/posts\/1492\/revisions\/2348"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/letterofcredit.uk\/index.php?rest_route=\/wp\/v2\/media\/555"}],"wp:attachment":[{"href":"https:\/\/letterofcredit.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1492"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/letterofcredit.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1492"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/letterofcredit.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1492"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}