How to Determine Maturity Date if Letter of Credit States That Tenor of the...
Maturity date is a term related to a time draft.
A time draft is a form of payment that is guaranteed by an issuing bank,...
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...
What Does Duplicate, Triplicate Mean in a Letter of Credit?
Letters of credit have a special jargon.
If you are not familiar with the L/C language, you may not be able to understand what letter...
How to Open a Letter of Credit?
On this page, I will try to answer the question "How to open a letter of credit?" by explaining the lc application process in...
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...
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...
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...
What Happens if Due Date of a Letter of Credit Falls on a Bank...
Letter of credit is a conditional payment method. It is only payable if the issuing or confirming bank determines that the presentation is complying.
Once,...
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...
Comparison Between the Partial Shipment and Transshipment
Definition of Transshipment: Transhipment means unloading from one means of conveyance and reloading to another means of conveyance during the carriage as enrouted in...
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