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...
Letter of Credit Transaction
On my previous posts, I have not only made a definition of a letter of credit, but also clarified its types and parties that involved...
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...
How to Determine Date of Shipment on a Road Transport Document?
Date of shipment is one of the key definitions in a letter of credit transaction. It is used to determine
whether shipment made on...
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,...
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...
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...
Importance of Bill of Lading Title: Ocean or Marine Bill of Lading
Issuing banks often require an ocean bill of lading or a marine bill of lading under letters of credit as a transport document.
The question...
To Order and Blank Endorsed Bill of Lading
Bill of lading, which is a transport document used in international trade, is an authentic receipt delivered by a carrier, confirming that the goods...
What happens if court stops payment of an irrevocable, confirmed letter of credit?
In many countries, applicants able to prevent payments under letters of credit by obtaining court orders on the grounds that low quality goods shipment...
- Advertisement -
