1
Applicant's bank
The financial institution which is requested to issue the documentary credit.
2
Issuing bank
The financial institution which issues the documentary credit, if the applicant's bank is not acting as the issuing bank.
3
Beneficiary's bank
The financial institution with which the beneficiary maintains an account.
4
Buyer
The buyer is responsible for carrying out the instruction.
5
Seller
The seller is responsible for carrying out the instruction.