For your import and export transactions, the fastest and most secure letter of credit service is available through Limassol Turkish Cooperative Bank Ltd. A letter of credit is a written undertaking by a bank, based on the buyer’s request and instruction, to pay the seller a certain amount within a specified period, against specific documents and provided certain conditions are met, and to accept or purchase bills of exchange issued by the beneficiary. In a letter of credit payment, the seller has a bank’s guarantee that the price of the goods will be paid to them. The buyer, on the other hand, is confident that payment will not be made to the seller unless the terms of the letter of credit are met, as these terms are prepared based on their request and instruction. In international trade, letter of credit transactions, which protect both the buyer and the seller, are carried out at our bank by our experienced staff, based on the International Chamber of Commerce’s brochure No. 600 on Uniform Procedures and Practices regarding Letters of Credit, and in accordance with our country’s domestic regulations.