The letter of credit (LC for short) is a means of securing payments. It represents a payment obligation on the Bank's part on behalf of the buyer and in favour of the seller, whereby the seller can claim payment for goods and services provided by submitting the documents listed in the LC and complying with all other conditions.

The Bank does not assume any risk in relation to the goods or services themselves, i.e. it deals exclusively with the documents and the conditions stipulated in the LC.