Presentation Presentation – What is a Letter of Credit? Understanding the main characteristics and usage of a letter of credit. By Ozgur Eker (CDCS) - 27 January 2019 0 9665 FacebookTwitterPinterestWhatsApp BackNext6. Parties in a Letter of Credit TransactionMain parties involved in a letter of credit transaction are indicated below; Issuing Bank Beneficiary Applicant Advising Bank Nominated Bank Confirming Bank Reimbursing Bank BackNext