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Home Letter of Credit Basics How to Work With a Letter of Credit

How to Work With a Letter of Credit

Effectiveness Date of an Amendment

Effectiveness Date of an Amendment

Letter of credit is an irrevocable and conditional payment obligation of the issuing bank. As the letter of credit is irrevocable, its terms and conditions...
Date of Shipment on an Air Transport Document

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...
Means-of-Conveyance-and-Mode-of-Transport

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...
Latest Date of Shipment and Expiry Date

What Does Latest Date of Shipment and Expiry Date Mean in a Letter of...

On this post, you can find explanations regarding the latest date of shipment and expiry date. If a letter of credit requests presentation of a...

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...
Date of shipment

Date of Shipment

Date of shipment is used to determine; whether shipment made on time or not (in other words a late shipment has been effected or...

Is It Possible to Get Partial Payments When Making Partial Shipments?

Partial shipments, partial drawings and partial payments are very closely related terms in letters of credit transactions. A beneficiary can make partial shipments, if the...
What does full set of bill of lading mean?

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...
Partial Drawings and Partial Shipments

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...
letter of credit mistakes

5 Biggest Letter of Credit Mistakes

In international trade, there are couple of payment options available such as cash against documents, open account, advance payment and letter of credit. Letter of...
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