Effectiveness Date of an Amendment
Letter of credit is an irrevocable and conditional payment obligation of the issuing bank.
As the letter of credit is irrevocable, its terms and conditions...
5 Biggest Letter of Credit Mistakes
In international trade, there are couple of payment options available such as cash against documents, open account, advance payment and letter of credit.
Letter of...
How to Determine Date of Shipment on a Road Transport Document?
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 Acceptance of Amendments
According to the letter of credit rules, the beneficiary should communicate its acceptance of the amendment to the bank that advised such amendment.
The beneficiary...
L/C Demands a B/L Stating That All Original B/Ls Must be Surrendered
A negotiable bill of lading is a bill of lading where the consignee’s name is preceded by the words “to order,” thus allowing the...
How to Determine Date of Shipment on a Sea Waybill?
Date of shipment is one of the key definitions in a letter of credit transaction. It is used to determine
whether shipment made on...
Which is the Best Cargo Insurance Type That Should be Selected Against Non-Delivery Risks?
Institute Cargo Clause A (All risks), Institute Cargo Clause B and Institute Cargo Clause C are the main types of cargo insurance types used...
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