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...
Availability of Letters of Credit
According to letter of credit rules, a credit must state whether it is available by sight payment, deferred payment, acceptance or negotiation. (UCP 600...
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...
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...
Partial Acceptance of Amendments
According to the letter of credit rules, the beneficiary should communicate its acceptance of the amendment to the bank that advised such amendment.
The beneficiary...
What Does “With Recourse” and “Without Recourse” Mean in International Finance?
Recourse means the right to claim a refund of an amount paid in connection with the negotiation of a documentary credit or the discounting...
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...
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...
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