Is there a fee for a letter of credit? The bank charges a fee for issuing a letter of credit. The fees for a letter of credit depends on several factors like the risk amount and the type of letter of credit. How does a letter of credit help the purchasers? Usually, a letter of credit supports a beneficiary or a seller in an exchange agreement where the bank will make sure that the seller receives the amount from the purchaser or from the issuing bank itself. However, the letter of credit arrangement also assists a purchaser in certain circumstances such as if the purchaser makes a payment to the seller for an order and the seller does not deliver the order on time. In such a situation, the purchaser will get paid with the money that was spent by him or her with the help of a letter of credit. Hence, this way, the purchaser will get a refund.
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