are a long established mechanism by which banks facilitate international trade by providing short-term trade support to customers.

• A usance L/C allows the importer to obtain a period of credit before having to pay the exporter for his goods.
• The exporter will not be paid unless, and until, he has presented the specific documents in accordance with the terms of the L/C.
• The importer can ensure shipment of the goods within a reasonable time by specifying a latest date for shipment on the L/C.
• The importer can obtain the help and advice of the Co-op Bank with regard to the L/C.