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...
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...
Means of Conveyance and Mode of Transport
Modes of Transport is a term used to distinguish substantially different ways to perform transport.
The most frequently used modes of transport in international trade...
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,...
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...
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...
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...
How Does an Import Letter of Credit Work in International Trade Transactions?
On this page, I will try to answer the question “How Does an Import Letter of Credit Work?” by explaining the import letter of...
Complying Presentation
What is a Complying Presentation?
If issuing bank determines that the presentation is complying then the issuing bank must honor. If credit is available by...
What Does Duplicate, Triplicate Mean in a Letter of Credit?
Letters of credit have a special jargon.
If you are not familiar with the L/C language, you may not be able to understand what letter...
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