What are the Differences Between Bank Guarantees and Letters of Credit?
Demand guarantee is an irrevocable undertaking issued by a bank according to instructions received from the principal, to pay the beneficiary any sum that...
How to Check a Letter of Credit as an Exporter?
Documentary letters of credit are internationally recognized instruments that help ensure the creditworthiness and payment of the overseas parties you’re trading with.
Letter of credit...
Shipping Documents
Shipping documents, when used as a term in a letter of credit, could create problems between the issuing bank and the beneficiary due to...
How to Determine Date of Shipment on a 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...
Date of Shipment
Date of shipment is used to determine;
whether shipment made on time or not (in other words a late shipment has been effected or...
What Does Latest Date of Shipment and Expiry Date Mean in a Letter of...
On this post, you can find explanations regarding the latest date of shipment and expiry date.
If a letter of credit requests presentation of a...
How Does a Bill of Exchange Work?
Bill of exchange, which is also known as draft, is a financial document commonly used in international trade transactions.
According to UK's Bill of Exchange...
Is It Possible to Get Partial Payments When Making Partial Shipments?
Partial shipments, partial drawings and partial payments are very closely related terms in letters of credit transactions.
A beneficiary can make partial shipments, if the...
Partial Drawings and Partial Shipments: What is the Difference?
Partial shipment and partial drawing terms are usually used with the same meaning in export and import transactions.
But this is not necessarily the case...
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...
- Advertisement -
