How to Check a Letter of Credit as an Exporter?
Documentary letters of credit are internationally recognized instruments that help ensure the creditworthiness and payment of the overseas parties you’re trading with.
Letter of credit...
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...
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,...
Dates
Whatever your position in an international letter of credit transaction, whether you are an export specialist in a small manufacturing company, an import responsible...
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...
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 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,...
What Happens if Letter of Credit is Silent in Regards to the Period of...
Documents must be presented to the nominated banks within allowed time frame under letters of credit payments.
Otherwise issuing banks or confirming banks raise late...
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...
Freight Notations Under Letters of Credit: Freight Prepaid or Freight Collect
The freight notation is a specific reference included in the transport document that indicates whether the shipper has already paid the freight costs in...
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