Overall LC process of Paramount Textile Limited

Abstract

In this modern world, LC is so much important for a company. In Bangladesh, it is not different in this case. An export company can not run without selling its product and they have to do import. But for import and export it is very risky to buy or sell because it has no guarantee that a seller will send his product and buyer will pay for it. But by LC, banks take this risk. It is not an easy process but safe for an organization. I did my work with account and commercial department. I did my work related LC. This internship program and preparation of this report helped me a lot to learn about the practical environment and situation of a financial institution and also make up a bridge between the theoretical and practical aspects. The main part of the report includes theoretical overview of LC, LC related operations practiced in this company, analysis of gathered information and finally recommendations depending on analysis.