Advantages and Disadvantages of Letters of Credit
Letter of credit is one of the payment methods in international trade. Just like other payment methods it has certain advantages and disadvantages.
Advantages of...
Revolving Letter of Credit
Revolving letter of credit is a special type of letter of credit, which is not covered under the UCP 600 rules.
Contrary to popular belief,...
URBPO – ICC Uniform Rules for Bank Payment Obligations – ICC Publication No. 750
What Does URBPO Mean?
The URBPO are the Uniform Rules for Bank Payment Obligations ICC publication No. 750.
URBPO were approved by the ICC national committees...
Bank Payment Obligation – BPO
Each payment method in international trade has strengths and weaknesses.
For example, open account and cash in advance payments are elementary payment options. They are...
Documentary Collections – Cash Against Documents (CAD)
Documentary collection (D/C) is a payment method in international trade.
Documentary collection is also known as Cash Against Documents (CAD) by most exporters and importers.
Documentary...
Payment Methods in International Trade
There are 5 types of payment methods available in international trade.
These payment types are cash-in-advance, open account, documentary collections, documentary credits (letters of credit)...
Confirmed L/C at Sight
Confirmed L/C at sight covers two definitions: Confirmed letter of credit which is payable at sight.
Letters of credit can permit the beneficiary to be...
Cash in Advance Payment
Cash in advance (CIA) is a payment method in international trade. Cash in advance is also known as cash with order or advance payment...
What Are the Differences Between Cash Against Documents and Letters of Credit?
Letters of credit (l/c) and cash against documents (documentary collections, cad) are both payment methods in international trade.
Their combined share is around 50% in...
BCG and SWIFT Published Global Payments Report 2014
The Boston Consulting Group (BCG) published in cooperation with Swift a new report on consumer payments-exploring key trends in Europe, North America, and rapidly...
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