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).
Discrepancies
The issuing bank or the confirming bank must pay the credit amount to the beneficiary, when they determine that the presentation is complying.
The complying...
How to Deal with High Banking Commissions under Letters of Credit?
No matter how many advantages letters of credit have, they have one big disadvantage. They are expensive.
As a result, you should understand your costs...
Discrepancy Fee
Discrepancy can be defined as an error or defect, according to the issuing bank, in the presented documents compared with the documentary credit, the UCP...
Confirmation Fee
Confirmation fee can be defined as charges collected by the confirming banks, against the risks they will be having to posses by confirming the...
Advising Fee
The act of informing the details of a credit or an amendment to the beneficiary is known as advising under documentary credit transactions.
By advising...
Letter of Credit Fees
Letters of credit have certain advantages as an international payment method.
If you have enough knowledge and expertise on letters of credit field, then you...
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...
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 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...
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...
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