for international business LC is normally "letter of credit". I won't provide what Mr Google can provide you with but its a commercial arrangement via the banking system that requires goods and services to be presented, documents transferred before payment is received. There are a number of conditions that can be included in the documents but I won't go into it here.
Given that we are being told its one shipment a month, its only normal that the LC for July has been already opened and in place.
GXY Price at posting:
$1.92 Sentiment: Hold Disclosure: Held
