Advising the Credit

Advising the Credit is the process by which the advising bank notifies the beneficiary that a letter of credit has been issued in their favor, confirming its authenticity. The advising bank ensures the letter of credit’s legitimacy and informs the beneficiary of its terms. This process involves verifying the document’s details and communicating them to the beneficiary. Examples of advising banks include HSBC, Citibank, and JPMorgan Chase.