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...
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...
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...
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...
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...
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...
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...
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...
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