Thursday, November 21, 2019
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Ozgur Eker (CDCS)

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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).
confirmationvideo

Confirmation and Confirmed Letter of Credit

When an irrevocable letter of credit is issued, the risk of payment rests with the issuing bank. This type of letter of credit is defined...
payment types in a letter of credit transaction

Availability of Letters of Credit

According to letter of credit rules, a credit must state whether it is available by sight payment, deferred payment, acceptance or negotiation. (UCP 600...
letter of credit transactionvideo

Letter of Credit Transaction

On my previous posts, I have not only made a definition of a letter of credit, but also clarified its types and parties that involved...
letter of credit risks

Risks in Letters of Credit

Documentary credit is an essential part of the export process. The documentary credit system has been used for over a hundred and fifty years, and still plays a...
parties to letter of credit

Parties to Letters of Credit

This page deals with the parties of the letter of credit. Main parties of a typical letter of credit transaction are applicant, beneficiary, issuing bank, confirming bank, nominated bank,...
Types of Letters of Credit

Types of Letters of Credit

Have you ever heard any of the following trade finance terms and wonder their meanings: red clause, confirmed, standby, irrevocable. These are the terms that...
what is al letter of creditvideo

What is Letter of Credit

Letter of credit, in a broad perspective, is one of the payment methods in international trade. The letter of credit is distinguished itself from other...
Confirmed Letter of Credit Sample

Confirmed Letter of Credit Sample

Confirmation means a definite undertaking of the confirming bank, in addition to that of the issuing bank, to honour or negotiate a complying presentation. Confirming bank...
Standby Letter of Credit Sample

Standby Letter of Credit Sample in Swift Format

A standby letter of credit is the bank's undertaking of fulfilling the applicant's obligations. A standby letter of credit is issued as collateral and is...
Deferred Payment Letter of Credit Sample

Irrevocable Deferred Payment Letter of Credit Sample in Swift Format

Deferred payment is one of the payment options available under letters of credit, along with sight payment, acceptance and negotiation. Under deferred payment terms, exporters receive...
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