LC Available by Payment, Acceptance, Deferred Payment or Negotiation — The Difference

Field 41a of every LC says how it pays. Here is what each option means for when and how you get your money Where availability is set. Every documentary credit says **with which bank** it is available and **by what means** — in field **41a ('Available With … By …')** of the MT700, as UCP 600 article 6 requires. The bank named is the **nominated bank**; 'any bank' makes the credit **freely negotiable**, while naming one bank makes it **restricted** to that bank. The four ways an LC can be available. Terms that come with availability. Read more. Frequently Asked Questions.

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