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...
Top 10 Letter of Credit Discrepancies
Discrepancy can be defined as an error or defect, according to the issuing bank, in the presented documents compared to the documentary credit, the...
Types of Letters of Credit
Have you ever heard any of the following trade finance terms and wonder their meanings: red clause, confirmed, standby, irrevocable.
These are the terms that...
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...
Confirmation and Confirmed Letter of Credit
When an irrevocable letter of credit is issued, the risk of payment rests with the issuing bank. This type of letter of credit is defined...
Advantages and Disadvantages of Letters of Credit
Letter of credit is one of the payment methods in international trade. Just like other payment methods it has certain advantages and disadvantages.
Advantages of...
Parties to Letters of Credit
This page deals with the parties of the letter of credit.
Main parties of a typical letter of credit transaction are applicant, beneficiary, issuing bank, confirming bank, nominated bank,...
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...
How to Add a Confirmation to a Letter of Credit?
Confirmation gives additional payment assurance to the exporters.
When an irrevocable letter of credit is issued, the risk of payment rests with the issuing bank....
What is Letter of Credit
Letter of credit, in a broad perspective, is one of the payment methods in international trade.
The letter of credit is distinguished itself from other...
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