Arrange the following steps to represent working mechanism of Letter of Credit. The seller makes the goods available or ships them to agreed upon destination The advising bank will then forward documents to issuing bank after having checked them The seller then submits the documents to advising bank The importer instructs the issuing bank to open a letter of credit in favor of the exporter The exporter and importer agree in the contract of sale that payment shall be made by letter of credit The documents are checked again by the issuing bank and if found to be in order, the importer's account will be charged Finally, the exporter will receive the payment L/C will then be forwarded to exporter's bank (advising bank) in the country of exporter The advising bank will then forward documents to issuing bank after having checked them The seller then submits the documents to advising bank The importer instructs the issuing bank to open a letter of credit in favor of the exporter The exporter and importer agree in the contract of sale that payment shall be made by letter of credit The documents are checked again by the issuing bank and if found to be in order, the importer's account will be charged Finally, the exporter will receive the payment L/C will then be forwarded to exporter's bank (advising bank) in the country of exporter At this time, payment will be made to the advising bank The Letter of Credit will then be issued in accordance with terms specified by the importer and agreed upon with the exporter