Letter of Credit

What is Letter of Credit?

A Letter of Credit (LC) is a payment method that plays an important role in global trades between buyers and sellers that may not know each other personally or even separated by distance, laws and currency in different countries.
LC System

LC is offering a secure balance for the buyer as well as the seller, and normally both of them are relying upon the Security of Banks and the Banking System to ensure their payments are received and goods are provided.

Wixlar LC

Now you can do the exact same thing within the Wixlar BlockChain due to our Latest Technology of the Hashing Algorithm Security, rapid transactions and much lower fees.

How does it work?

In Wixlar Letter of Credit, the Seller accepts to receive Wixlar Coins after shipping the goods to the Buyer. The Buyer approves to send the exact amount of goods in Wixlar Coins to our Wixlar Commercial Department that holds that balance and send notification to the seller to ship the goods. Once the goods are received or shipped according to the mutual agreement between the buyer and the seller, Wixlar Commercial Department will release the Wixlar Coins to the Seller.

Example

If you have a business of 10,000 Euros Letter of Credit:

Through Banks:

Most of the Banks takes approx. 200 Euros + approx. 25 Euros for Stamps, Swift etc. for 1 year LC depending on the shipping duration.

Through Wixlar:

Cheapest Way as only 0.5% which is 50 Euros only + 0 Euros for processing for 1 year LC depending on the shipping duration.

Wixlar Commercial Department is here to support your business

Start Letter of Credit

Contact us Today with the details of your Business Transaction and the Wixlar Commercial Team will help you in the process.
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