Document credit is an International trade procedure in which the credit worthiness of an importer is substituted by the guaranty of a bank for a specific transaction. Under documentary credit arrangement (also called letter of credit arrangement) an issuing bank (usually in the importer’s or buyer’s country) undertakes to pay for a shipment, provided the exporter (beneficiary) submits the required documents. These documents almost always include a clean bill of lading or air waybill, certificate of insurance, certificate of origin commercial invoice, and certificate of origin. To establish a letter of credit in favor of the seller or exporter (called the beneficiary) the buyer (called the applicant or account party) either pays the specified sum (plus service charges) up front to the issuing bank, or negotiates credit within a specified period. In the US this arrangement is called “commercial letter of credit.”