In this step, the buyer and seller agree that the buyer will purchase the goods, and afterward the InitialApplication transaction is submitted. The buyer and seller have uploaded the agreement rule associated with this newly created letter of credit.

Run the POST method for InitialApplication:

{
  "$class": "org.example.lc.InitialApplication",
  "letterId": "LC-CA-501P10",
  "buyer": "resource:org.example.lc.User#david",
  "seller": "resource:org.example.lc.User#jason",
  "issuingBank": "resource:org.example.lc.Bank#BI",
  "confirmingBank": "resource:org.example.lc.Bank#EB",
  "rules": [ {
      "ruleId": "LC-CA-501P10-AGREEMENT-1",
      "ruleText": "The Scooter will be received in working order"
    },
    {
      "ruleId": "LC-CA-501P10-AGREEMENT-2",
      "ruleText": "The Scooter will be received within 35 days"
    }],
  "productDetails": {
    "$class": "org.example.lc.ProductDetails",
    "productType": "Scooter",
    "quantity": 50000,
    "pricePerUnit": 30
  }

You can then verify the LC's content, and you should see a successful response with the status 200.