How to Determine Date of Shipment on a Sea Waybill?
Date of shipment is one of the key definitions in a letter of credit transaction. It is used to determine
whether shipment made on...
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...
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...
Partial Drawings and Partial Shipments: What is the Difference?
Partial shipment and partial drawing terms are usually used with the same meaning in export and import transactions.
But this is not necessarily the case...
Freight Notations Under Letters of Credit: Freight Prepaid or Freight Collect
The freight notation is a specific reference included in the transport document that indicates whether the shipper has already paid the freight costs in...
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...
Advantages and Disadvantages of Letters of Credit
Letter of credit is one of the payment methods in international trade. Just like other payment methods it has certain advantages and disadvantages.
Advantages of...
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...
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...
How Does a Bill of Exchange Work?
Bill of exchange, which is also known as draft, is a financial document commonly used in international trade transactions.
According to UK's Bill of Exchange...
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