Hello , Sir . How can we help you today ?   I need to find out some more information for L / C . I would like an outline of responsibilities , both ours , yours and the beneficiary , please .   OK , to start , the conditions are specified by the buyer and may include Insurance Forms , Way Bills , Bills of Lading , Customs forms , various certificates .   OK , got it . Is there anything else I need to know before we go ahead ?   Just that in effect , a basic Letter of Credit is a financial contract between the bank , the bank's customer , and the beneficiary , and this contract involves the transfer of goods or services against funds . 