A colleague explained that an NCND is a document that secures payment between a buyer and seller by involving elected banks on both sides, but my question is how this is different from an LC?


Thank you in advance,


Ryan

Quoting from [EnglishRyan]:


A colleague explained that an NCND is a document that secures payment between a buyer and seller by involving elected banks on both sides, but my question is how this is different from an LC?



Thank you in advance,



Ryan

NCND(Non-circumvention Non-disclosure) is an agreement. As you mentioned in your question, it's just a document. Nothing to do with the Payment.

LC is different and it's bank instrument. which involve money........


NCND is mostly done in bulk commodities trade in order to secure their source or contact.