Letter of Credit Currencies
Used as a medium of exchange for goods and services, currency is the basis of the trade.
It is expected that each country has its...
How to Cancel a Letter of Credit?
According to the letter of credit rules, a letter of credit should be issued in an irrevocable form, as a result it cannot be...
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...
What are the Consequences of not Allowing Partial Shipments?
Normally the letter of credit rules allow partial shipments.
UCP 600 Article 31 states that partial drawings or shipments are allowed.
If an applicant does not...
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...
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...
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...
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...
Is It Possible to Submit 2 Sets Bills of Lading Under One Letter of...
Amer from Ajman (United Arab Emirates (UAE)) asks this question. I would like to thank him once again for this great question.
Question: I have...
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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