Ozgur Eker (CDCS)
Hello. My name is Ozgur Eker. Since 2009, I am a professional and independent letter of credit consultant from Izmir, Turkey. I have a bachelor's degree in business administration and master's degree in international trade and finance; awarded with CDCS (Certified Documentary Credit Specialist) two times between (2010-2013) and (2013-2016).
Letter of Credit Discounting
Letter of credit is not a cheque, but rather it is a conditional payment undertaking of the issuing bank.
As a result a beneficiary first...
What Happens If a Letter of Credit Calls For a Wrong Incoterms?
Daily practice shows us that Incoterms are not used in a correct way as per ICC rules.
Exporters and importers frequently use wrong incoterms in...
What Are the Differences Between Cash Against Documents and Letters of Credit?
Letters of credit (l/c) and cash against documents (documentary collections, cad) are both payment methods in international trade.
Their combined share is around 50% in...
Letter of Credit Currencies
Used as a medium of exchange for goods and services, currency is the basis of the trade.
It is expected that each country has its...
Language of Letter of Credit Documents
Banks decide whether a presentation is complying or not by only checking the documents under the letters of credit transactions.
Banks should be able to...
How to Handle a Letter of Credit Which Contains a Joker Clause?
"A credit should not require presentation of documents that are to be issued, signed or countersigned by the applicant" says International Standard Banking Practice...
Top 10 Letter of Credit Discrepancies
Discrepancy can be defined as an error or defect, according to the issuing bank, in the presented documents compared to the documentary credit, the...
5 Biggest Letter of Credit Mistakes
In international trade, there are couple of payment options available such as cash against documents, open account, advance payment and letter of credit.
Letter of...
How Does an Import Letter of Credit Work in International Trade Transactions?
On this page, I will try to answer the question “How Does an Import Letter of Credit Work?” by explaining the import letter of...
How to Open a Letter of Credit?
On this page, I will try to answer the question "How to open a letter of credit?" by explaining the lc application process in...
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