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,...
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...
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....
Dates
Whatever your position in an international letter of credit transaction, whether you are an export specialist in a small manufacturing company, an import responsible...
Freight Forwarder’s Bill of Lading Not Acceptable
Some issuing banks add an additional condition to the letters of credit they have issued, indicating that freight forwarder's bill of lading is not...
How Does a Negotiable Letter of Credit Work?
What Does Negotiation Mean?
Negotiation means the purchase by the nominated bank of drafts (drawn on a bank other than the nominated bank) and/or documents...
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...
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...
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...
Confirmed L/C at Sight
Confirmed L/C at sight covers two definitions: Confirmed letter of credit which is payable at sight.
Letters of credit can permit the beneficiary to be...
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