... a major factor, Letters of Credit provide otheradvantages for the buyer and seller.What Is a Letter of Credit? A Letter of Credit is an undertaking issued by a bankin favor of a Beneficiary, ... procedures, and accountingpractices. Historically, merchants have sought ways of minimizing these differences and facilitating trade. Thespecial protection and opportunities offered by Letters of Credit ... port of loading (e.g., Place of Receipt:Hong Kong CY; Port of Loading: Hong Kong), these placesare deemed to be the same, and therefore the specification of the port of loading and the name of...