CLASSIFICATIONS OF

LETTERS OF CREDIT
I. ACCORDING TO THE
METHOD OF TRANSMISSION:
A. CIRCULAR
B. SPECIFICALLY ADVISED

II. ACCORDING TO THE

DURATION OF THE
SUBSTITUTION OF CREDIT:
A. REVOCABLE
B. IRREVOCABLE
III. ACCORDING TO
OBLIGATIONS ASSUMED BY
THE BANK:

A. CONFIRMED
B. UNCONFIRMED
IV. ACCORDING TO THE
METHOD OF
REIMBURSEMENT:
A. SIMPLE
B. REIMBURSEMENT

V. ACCORDING TO METHOD
OF PAYMENT
A. NEGOTIATION
B. STRAIGHT
C. SIGHT
D. ACCEPTANCE
E. FOREIGN CURRENCY