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...
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...
What is a Partial Shipment?
On this post, I would like to explain partial shipments in letters of credit.
You can find detailed explanations regarding the definition and conditions of...
How to Add a Confirmation to a Letter of Credit?
Confirmation gives additional payment assurance to the exporters.
When an irrevocable letter of credit is issued, the risk of payment rests with the issuing bank....
What is Business Identifier Code (BIC) and International Bank Account Number (IBAN)?
Whatever your payment method would be, cash in advance, open account, cash against documents, letter of credit or bank payment obligation, you need to...
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...
What Does “Made Out to the Order of” Mean in a Bill of Lading?
Majority of the letters of credits are asking for a bill of lading which must be issued made out to the order of the...
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 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...
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...
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