What does a non-documentary condition mean?
Non-documentary condition can be defined as any instruction or condition that is not clearly attributable to a document to be stipulated in a documentary...
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...
What Happens if Due Date of a Letter of Credit Falls on a Bank...
Letter of credit is a conditional payment method. It is only payable if the issuing or confirming bank determines that the presentation is complying.
Once,...
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...
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....
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...
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 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,...
What is Letter of Credit
Letter of credit, in a broad perspective, is one of the payment methods in international trade.
The letter of credit is distinguished itself from other...
Comparison Between the Partial Shipment and Transshipment
Definition of Transshipment: Transhipment means unloading from one means of conveyance and reloading to another means of conveyance during the carriage as enrouted in...
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