ttb domestic letter of credit issuance (DLC)

Domestic letter of credit is served as instruction of guaranteed payment from the domestic buyer to seller. It is issued by the bank and acts as a promise of timely payment to the seller. The applicant is the one who request the DLC to be issued, which will normally be the buyer while the beneficiary, which normally will be the seller, is the person who receive the payment under the DLC in case presented documents are comply with the conditions under the DLC.