Establish payment guarantee

Activities and Associated Documentary Requirements: 3.1.1. Request the payment to importer by exporter or the representative based in Vientiane; 3.1.2. Acknowledge of payment request by the importer; 3.1.3. Apply for letter of credit 3.1.4. Consult exporter’s bank by exporter; 1. Consult importer’s bank by importer; 2. the importer's bank will review submitted document and application that request for issue the letter of credit; 3. If all the documents and application accepted, the importer's bank will issue letter of credit and the importer will directly send to both exporter and exporter's bank; 4. The exporter's bank will establish authenticity for the payment transaction and will notice to the exporter about the correct of letter of credit; 5. The exporter's bank will officially notice of authenticity of letter of credit to exporter as the confirmation process; 6. The exporter will check the L/C and determine if L/C is acceptable; 7. If the L/C is accepted, the exporter will confirm of authenticity of the letter of credit and notice to both importer and exporter's bank to proceed the payment; 8. Right after got the authenticity of letter of credit, the importer will officially acknowledge of letter of credit accepted; and prepare for precede the further payment step.