Reply To: How can a bank open a letter of credit for a client of a global trade finance co

As far as I know when a credit note is created, the issuing bank assumes responsible for making the payments after receiving the beneficiary’s or their banker’s documentation. If the documents are in compliance with the line of credit’s terms and conditions, payments must be made to the recipient within 7 working days from the day they were received at their end. If any of the records are in error, they must be rejected and notified within 7 working days of the date the documents were received at their end.