Coface's mission is to facilitate global business-to-business trade by offering companies four product lines to help them manage, finance and protect their receivables (i.e., all credit granted for a period of 30 days, 60 days or sometimes more to other companies in the course of their commercial relations):
Coface also offers three other business lines:
Coface operates subsidiaries or branch offices in 58 countries, staffed by more than 4,600 employees serving 83,000 clients. It also offers local services in 93 countries through its partners in the CreditAlliance network, united by shared credit risk management systems (the Common Risk System).
Source: This is an excerpt from http://www.coface.com/
Tt (telegraphic transfer), * bill etc. vs. lc (letter of credit)
Author: Catalyst
Back to back letters of credit
Author: Catalyst
The original LC and the one issued against it are independent. See how it works.