With recourse and without recourse are two terms defining whether or not the paying letter of credit bank shall claim refund from the beneficiary in case it could not get reimbursement from the issuing bank.
A certified commercial invoice is a commercial document, which is issued by the beneficiary of the letter of credit and certified by the chamber of commerce. Legalized invoice, in addition to chamber of commerce certification,contains a signature and stamp of an embassy.
On this page I would like to share a legalized commercial invoice example. The invoice was prepaped in 2012 by one of Turkish manufacturer and exporter in accordance with the letter of credit that was issued by a Yemen bank.
A shipment advice is a commercial document , which is issued by the exporter, who is the beneficiary of the letter of credit, in order to give shipment details to the importer, who is the applicant of the letter of credit.
An exporter may receive payment under a letter of credit quite a long period of time especially when letter of credit is available not at sight, but certain period after shipment under usance letter of credit terms.
Importers have to present at least one original copy of the bill of lading to the carrier's agent at the port of discharge in order to receive goods from the carrier if the bill of lading issued in negotiable form.