We are prominent Import Financing Company Delhi offering reliable Import Financing Services to our esteemed clientele. As a leading provider of Import Financing Services in Delhi, we will handle all sorts of issues for seamless import financing solutions in accordance to our valuable clientele. Letters of credit are the most widely used type of import financing worldwide. Letters of Credit are financial instruments issued by an importer’s bank that authorize the exporter to withdraw funds from the bank under certain conditions and issued in favor of a named beneficiary (the exporter), for a stated amount, and with a hard expiration date. Letters of credit specify the terms and conditions under which payment will be made. In order to draw payment from the importer’s bank, the exporter has to provide documentary evidence that the goods have been shipped in accordance with the terms and conditions specified in the letter of credit. Letters of credit eliminate the obligation of the importer to pay for goods prior to shipping, since the importer’s bank in effect guarantees that payment will be made when documentary evidence that the goods have been shipped is received by the bank. Letters of credit eliminate much of the risk inherent in international trade but can be expensive, and if too tightly specified they can be difficult to enforce, which is likely to result in expensive legal battles. Settlement can be a funds transfer or a promise to pay, such as a bill of exchange.