The characteristics of the letter of credit

(2)Althoughtheletterofcredittotradecontractsforthefoundation,butonceitopened,itbecameindependentofthecontractotherthanacontract."UCP500"provisionsofsection3oftheletterofcreditmaybeusedasthebasiswiththesalescontractisindependentofeachothertransactions,evenifthecontractmentionedinthelettersofcredit,thebankshasnothingtodowiththecontract,andnotbeboundby.Thus,allthepartiestorelyoncredittermsoftheletterofcreditact,aletterofcreditasthesolebasis.Iftheexportstothefullyconsistentwiththeprovisionsoftheletterofcreditdocuments,wecanguaranteethesecureandrapidexchangeearnings.Exporttofulfiltheirtermsoftheletterofcredit,andlettersofcreditissuedwithtermsconsistentwiththedocumentation,anddoesnotguaranteethathefullyperformthecontract,onthecontrary,iftheexportsidetoearnestlycarryoutthecontract,butfailedtoprovidethedocumentationconsistentwiththeletterofcredit,Bankswerealsodishonour.