LC (Letter of Credit) Terms and Conditions:
- Applicable for transactions over 10,000 USD.
- Terms and conditions must be agreed upon before opening the LC.
- We only accept 100% Irrevocable LC at sight.
Exceptions (Until December 31, 2025):
- We do not accept LC from India, Pakistan, or Bangladesh until December 31, 2025.
- Usance LC is not accepted.
- If the terms and conditions are not agreed upon, we may reject the LC.
- If you need to proceed with a transaction, consider using an intermediary company for payment.
For Net Payment Process, we verify the buyer’s information and financial credibility through KSURE (Korea Trade Insurance Corporation).
LC Process:
- Verification of buyer’s business information (3-10 working days).
- Agreement on "LC terms and conditions."
- Buyer issues a draft LC, and Hankook Industrial Supply confirms the LC.
- Buyer issues the Original LC to Hankook Industrial Supply.
- Hankook Industrial Supply ensures all documents and terms are followed according to the LC.