What Happens if Due Date of a Letter of Credit Falls on a Bank...
Letter of credit is a conditional payment method. It is only payable if the issuing or confirming bank determines that the presentation is complying.
Once,...
Comparison Between the Partial Shipment and Transshipment
Definition of Transshipment: Transhipment means unloading from one means of conveyance and reloading to another means of conveyance during the carriage as enrouted in...
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...
Importance of Bill of Lading Title: Ocean or Marine Bill of Lading
Issuing banks often require an ocean bill of lading or a marine bill of lading under letters of credit as a transport document.
The question...
Document Issued or Countersigned by the Applicant: What are the Risks?
What are the risks of a document which is to be issued, signed or countersigned by the applicant in a letter of credit transaction?
In...
How to Determine Maturity Date if Letter of Credit States That Tenor of the...
Maturity date is a term related to a time draft.
A time draft is a form of payment that is guaranteed by an issuing bank,...
How Much Does It Cost to Open a Letter of Credit?
On this page, I will try to explain the letter of credit issuance costs, and the main factors that are effecting them.
Letter of credit...
What Does Full Set of Bills of Lading Mean?
Under an ordinary letter of credit, the issuing bank demands a full set of clean shipped on board ocean bills of lading from the...
How to Complete a Bill of Lading under a Letter of Credit Payment?
Bill of lading is a transport document covering the carriage of goods by sea.
Letters of credit rules define 4 different types of bills of...
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...
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