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...
How Much Does It Cost to Open a Letter of Credit?
On this page, I will try to explain the letter of credit issuance costs, and the main factors that are effecting them.
Letter of credit...
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...
What are the Consequences of not Allowing Partial Shipments?
Normally the letter of credit rules allow partial shipments.
UCP 600 Article 31 states that partial drawings or shipments are allowed.
If an applicant does not...
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...
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...
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 Work With a Letter of Credit Sample?
You should understand that letter of credit samples would not be a magic formula to solve your letter of credit problems.
Letter of credit is...
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...
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....
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