Before getting LC, Buyer/ Supplier ( as the case may be) shares basic details of trade with www.lcbiding.com to get quote for LCBD (LC Backed Bill discounting).
Selection and acceptance of LC discounting rate and bank by the Client.
Basic credit information, KYC, details of counterparties, LC issuing banks and client business background and any additional information that might be specifically required from client.
One-time approvals are generally needed from LC discounting Bank. For each transaction, the financing bank's details (and clauses if any) will need to be incorporated into the LC. It is strongly advised to pre-discuss each transaction to avoid issues later.