Letter of Credit Basics

Understanding main concepts of letters of credit and most frequently used terms related to L/C payments.

How to determine date of shipment on a Charter Party Bill of Lading?

How to Determine Date of Shipment on a Charter Party 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...
How to determine date of shipment on a Non-Negotiable Sea Waybill?

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...
How to determine date of shipment on a Multimodal Bill of Lading?

How to Determine Date of Shipment on a Multimodal 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...
To Order and Blank Endorsed Bill of Lading

To Order and Blank Endorsed Bill of Lading

Bill of lading, which is a transport document used in international trade, is an authentic receipt delivered by a carrier, confirming that the goods...
bill of lading title. ocean or marine bill of lading

Importance of Bill of Lading Title: Ocean or Marine Bill of Lading

Issuing banks often require an ocean bill of lading or a marine bill of lading under letters of credit as a transport document. The question...
Made Out to the Order of

What Does “Made Out to the Order of” Mean in a Bill of Lading?

Majority of the letters of credits are asking for a bill of lading which must be issued made out to the order of the...
costs additional to freight

Costs Additional to Freight

If a letter of credit indicates that costs additional to freight are not acceptable, a transport document is not to indicate that costs additional...
document issued or countersigned by the applicant

Document Issued or Countersigned by the Applicant: What are the Risks?

What are the risks of a document which is to be issued, signed or countersigned by the applicant in a letter of credit transaction? In...
How to Determine Maturity Date if Letter of Credit States That Tenor of the L/C is 60 Days After Bill of Lading Issue Date?

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,...
Date of Shipment on an Air Transport Document

How to Determine Date of Shipment on an Air Transport Document?

An air waybill is a document covering the carriage of goods by plane from one airport to another. Date of shipment is one of the...
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