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"Issuing bank reviews the shipping and invoicing documents. If docs are acceptable, the LC gets paid..."
AND this is determined after the after the vehicle is has been loaded aboard the vessel??
If you knew the buyer and were selling 2 cars a month, this would be the way to do it. Not to be totally negative here (I do work in international trade, BTW), setting up an LC and the time and involved, plus potential problems is just not worth it for a private seller.
Cash in hand = Title + keys.
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