How to Determine Date of Shipment on a 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...
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...
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...
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...
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...
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...
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...
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...
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...
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