Freight Containers: Classification, Sizes and Dimensions
History of Freight Containers:
Standardization is one of the key elements of our modern civilization. By standardization we increase productivity, decrease costs and improve quality...
When Issuing Bank is also Applicant of a Letter of Credit: Islamic Finance, Leasing...
Applicant means the party on whose request the credit is issued. Applicant is the importer in a typical international commercial letter of credit.
Issuing bank...
China US Trade War – Top YouTube Videos
Since the end of World War 2 the United States of America is dominating world in terms of political, economical and technological means.
Apparently they...
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...
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)...
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...
Incoterms
What Does Incoterms Mean?
INCOTERMS (International Commercial Terms) have been created by the International Chamber of Commerce in order to reach an uniform set of...
UCP 600
What is UCP 600?
UCP 600 is the latest version of the rules that govern letters of credit transactions worldwide.
UCP 600 is prepared by International...
Bank Guarantees
What is a Bank Guarantee?
Guarantees are usually issued by banks, which is why they are also called 'bank guarantees'; however, they can also be...
Swift Messages in Letters of Credit
SWIFT is the short form of "Society for Worldwide Interbank Financial Telecommunication".
Swift defines its role in international financial transactions on its website as follows.
“Our...