Stale Documents
Some letters of credit indicate that stale documents are not acceptable. In rare circumstances letters of credit may also indicate that stale documents are...
L/C Demands a B/L Stating That All Original B/Ls Must be Surrendered
A negotiable bill of lading is a bill of lading where the consignee’s name is preceded by the words “to order,” thus allowing the...
How to Determine Date of Shipment on an Air Transport Document?
An air waybill is a document covering the carriage of goods by plane from one airport to another.
Date of shipment is one of the...
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,...
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 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...
What does a non-documentary condition mean?
Non-documentary condition can be defined as any instruction or condition that is not clearly attributable to a document to be stipulated in a documentary...
Reimbursement and Reimbursing Bank
What Does Reimbursement Mean?
Reimbursement is defined as a compensation paid to someone for an expense.
In order to be reimbursed by another person or organisation,...
Blank Back Bill of Lading Not Acceptable
A Blank Back Bill of Lading, also known as Short Form Bill of Lading, is a type of transport document that does not include...
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...
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