How to Check a Letter of Credit as an Exporter?
Documentary letters of credit are internationally recognized instruments that help ensure the creditworthiness and payment of the overseas parties you’re trading with.
Letter of credit...
What is a Transferable Letter of Credit?
Transferable letters of credit are a tool used by trading companies, or other third parties, to facilitate a trade transaction. (1)
Transferable letters of credit...
Nominated Bank
Nominated bank is another important yet not well understood term in international letter of credit transactions.
May be the biggest contribution of this lack of...
What is Business Identifier Code (BIC) and International Bank Account Number (IBAN)?
Whatever your payment method would be, cash in advance, open account, cash against documents, letter of credit or bank payment obligation, you need to...
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...
Proforma Invoice
In international trade, a proforma invoice means a trade document that states a commitment from the seller (exporter) to sell goods to the buyer...
Certificate of Origin
A Certificate of Origin (often abbreviated to CO, C/O, COO) is a trade document, which identifies the origin of goods that is being exported...
Confirmation and Confirmed Letter of Credit
When an irrevocable letter of credit is issued, the risk of payment rests with the issuing bank. This type of letter of credit is defined...
Letter of Credit Transaction
On my previous posts, I have not only made a definition of a letter of credit, but also clarified its types and parties that involved...
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...
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