[4] LC (Letter of Credit)

1 min. readlast update: 10.17.2023

 LC (Letter of Credit) Conditions. 

  1. Any Transactions above 10,000 USD.
  2. Terms and conditions must be mutually agreed upon before opening LC.
  3. We accept only 100% Irrevocable LC at sight only.

Exceptions (By 2023.DEC.31)

  1. We do not accept LC from India, Pakistan, and Bangladesh till 2023.
  2. We do not accept any "Usance LC."
  3. We may reject LC if the terms and conditions are not agreed upon.
If you must make a transaction with us then look for an intermediary company for payment.
We must verify the buyer's information and financial credibility via KSURE (Korea Trade Insurance Corporation) for the Net Payment Process.   

LC (Letter of Credit) process

  1. Verification of buyer's business information (Upto 3~10 working days)
  2. Discuss "LC terms and conditions"
  3. Buyer issues draft LC, and Komachine confirms the LC.
  4. Buyer issue Original LC to Komachine.
  5.  Komachine follows all necessary documents, terms, and conditions as per LC.

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