Shipping Marks
Packages, which are subject to international transportation, must be spotted and recognized at a distance with ease.
Exporters and carriers add some sort of identification...
What are the differences between received for shipment bill of lading and pre-printed shipped...
There are two types of bills of lading circulating around the globe in terms of pre-printed notifications:
Received for shipment bills of lading: Goods...
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...
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...
What does a non-documentary condition mean?
Non-documentary condition can be defined as any instruction or condition that is not clearly attributable to a document to be stipulated in a documentary...
Letter of Credit Discounting
Letter of credit is not a cheque, but rather it is a conditional payment undertaking of the issuing bank.
As a result a beneficiary first...
What Happens If a Letter of Credit Calls For a Wrong Incoterms?
Daily practice shows us that Incoterms are not used in a correct way as per ICC rules.
Exporters and importers frequently use wrong incoterms in...
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...
Language of Letter of Credit Documents
Banks decide whether a presentation is complying or not by only checking the documents under the letters of credit transactions.
Banks should be able to...
How to Handle a Letter of Credit Which Contains a Joker Clause?
"A credit should not require presentation of documents that are to be issued, signed or countersigned by the applicant" says International Standard Banking Practice...
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