PI issued 360 days LC. we issued LC at sight. now payment gone.to refund seller request standby lc. how can do

actually seller issued PI for 360 days credit LC. but due to mistake we proceed sight lc. now payment already gone. But based on relationship seller agreed to refund the money on third party guarantee. then we decided to open Stand by letter of credit to pay after 360 days. then how can do that.
on other hand is there any best way..?
kindly advise...

Erandika Deshapriya - In Legal and Insurance - Aug 30, 2011
Industry: Finance, Banking, Loans, etc.
logistic(import/export)
SC

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