英语翻译
(1)The buyer makes application for a letter of credit with his bank and signs the opening bank's agreement form.The opening bank approves the application and issues the actual letter of credit document.
(2)The opening bank forwards the letter of credit to the advising bank.
(3)The advising bank delivers the letter of credit to the beneficiary.
(4)Having examine the letter of credit,the beneficiary(seller)ships the goods to the buyer.After that,the beneficiary prepares documents,draws a draft and presents them to his bank.
(5)The beneficiary's bank negotiates the documents and pays funds to the beneficiary in accordance with the letter of credit.
(6)The negotiating bank forwards the documents to the opening bank.
(7)The opening bank receives the documents and checks them.If the documents are in order and comply with the letter of credit,the opening bank credits the negotiating bank’s account.
(8)The opening bank notifies the buyer to make payment for documents.
(9)After making payment,the buyer receives the documents and takes delivery of the goods.