the importer places an order with exporter and asks exporter if he/she would be willing to ship under a letter of credit.
1.进口商给出口商下了一个订单，并询问出口商是否同意按信用证方式安排出运。
2.the exporter agrees to ship under a letter of credit and specifies relevant information such as prices and delivery terms.出口商同意以信用证方式安排出运，并明确了价格，交货条款等相关信息。
3.the importer applies to his/her bank for a letter of credit to be issued in favor of the exporter wishes to buy.进口商向他们的银行申请开立信用证，并以出口商为受益人。
4.the importer's bank issues a letter of credit in the important's favor and sends it to the exporter's bank.进口商银行以出口商为受益人开立信用证，并发至出口商的银行。
5.the exporter's bank advises the exporter of the opening of a letter of credit in his/her favor.出口商的银行通知出口商有一个受益人是他们的信用证。
6.the exporter ships the goods to the importer on a common carrier.an official of the carrier gives the exporter a bill of lading.出口商通过一个常用的承运人安排装船货物出运，承运人给出口商提交了海运提单。
7.the exporter presents a 90-day time draft drawn on the importer's bank in accordance with its letter of credit and the bill of lading to the exporter's bank. the exporter endorses the bill of lading. so title to the goods is transferred to the exporter's bank.出口商按照信用证要求提交了90天付款且以进口商的银行为付款人的汇票，并和海运提单一起提交给出口商的银行。出口商把提单背书后，物权已经转让给了出口商的银行。
8.the exporter's bank sends the draft and bill of lading to the importer's bank. the importer's bank accepts the draft, taking possession of the documents and promising to pay the draft in 90 days.出口商的银行把汇票和海运提单交付给进口商银行。进口商的银行接受了汇票，得到了单据并承诺90天后付款。
9.the importer's bank returns the accepted draft to the exporter's bank.进口商银行把接受了的汇票返还给了出口商的银行。
10.the exporter's bank tells the exporter that it has received the accepted bank draft, which is payable in 90 days.出口商银行通知出口商他们收到了被接受的银行汇票，汇票是90天后付款。
11.the exporter sells the draft to his/her bank and receives the discounted cash value of the draft in return.出口商把汇票卖给了他们的银行，收到了扣除贴现利息后的金额。
12.the importer's bank notifies the importer of the arrival of the documents.he/she agrees to pay his/her bank in 90 days. the bank then releases the documents so the importer can take possession of the shipment.进口商的银行通知进口商单据已经收到。他们同意90天后付款给他们的银行，银行之后把单据给了进口商。所以进口商拥有了出运货物的物权。
13.in 90 days, the importer's bank receives the importer's payment,so it has funds to pay the maturing draft.90天后，进口商银行收到了进口商的付款，所以他们有了偿付到期汇票的资金。
14.in 90 days, the exporter's bank for payment. the importer's bank pays.90天后，出口商银行收到了进口商银行的付款。
