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...
Language of Letter of Credit Documents
Banks decide whether a presentation is complying or not by only checking the documents under the letters of credit transactions.
Banks should be able to...
How to Handle a Letter of Credit Which Contains a Joker Clause?
"A credit should not require presentation of documents that are to be issued, signed or countersigned by the applicant" says International Standard Banking Practice...
Top 10 Letter of Credit Discrepancies
Discrepancy can be defined as an error or defect, according to the issuing bank, in the presented documents compared to the documentary credit, the...
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 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...
How to Open a Letter of Credit?
On this page, I will try to answer the question "How to open a letter of credit?" by explaining the lc application process in...
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...
How to Deal with High Banking Commissions under Letters of Credit?
No matter how many advantages letters of credit have, they have one big disadvantage. They are expensive.
As a result, you should understand your costs...
Letter of Credit Fees
Letters of credit have certain advantages as an international payment method.
If you have enough knowledge and expertise on letters of credit field, then you...