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...
Freight Forwarder’s Bill of Lading Not Acceptable
Some issuing banks add an additional condition to the letters of credit they have issued, indicating that freight forwarder's bill of lading is not...
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...
Means of Conveyance and Mode of Transport
Modes of Transport is a term used to distinguish substantially different ways to perform transport.
The most frequently used modes of transport in international trade...
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...
How to Determine Date of Shipment on a Charter Party Bill of Lading?
Date of shipment is one of the key definitions in a letter of credit transaction. It is used to determine
whether shipment made on...
What is a Draft Letter of Credit?
Understanding the Importance of a Draft Letter of Credit
A letter of credit is a conditional payment method.
An exporter is required to submit documents, which...
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...
Shipping Documents
Shipping documents, when used as a term in a letter of credit, could create problems between the issuing bank and the beneficiary due to...
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...
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