{"id":3401,"date":"2018-12-22T09:50:17","date_gmt":"2018-12-22T14:50:17","guid":{"rendered":"http:\/\/www.letterofcredit.biz\/?p=3401"},"modified":"2019-04-06T03:20:17","modified_gmt":"2019-04-06T07:20:17","slug":"france-letter-of-credit-transactions","status":"publish","type":"post","link":"https:\/\/www.letterofcredit.biz\/index.php\/2018\/12\/22\/france-letter-of-credit-transactions\/","title":{"rendered":"France Letter of Credit Transactions"},"content":{"rendered":"<p>France is a European country, which is located northwestern of Europe.<\/p>\n<p>It is bordered by Belgium, Luxembourg and Germany to the northeast, Switzerland and Italy to the east, and Andorra and Spain to the south. (1)<\/p>\n<p>Historically and culturally among the most important nations in the Western world, France has also played a highly significant role in international affairs, with former colonies in every corner of the globe.<\/p>\n<p>Bounded by the Atlantic Ocean and the Mediterranean Sea, the Alps and the Pyrenees, France has long provided a geographic, economic, and linguistic bridge joining northern and southern Europe.<\/p>\n<p>It is Europe\u2019s most important agricultural producer and one of the world\u2019s leading industrial powers. (2)<\/p>\n<p>On this page you can find brief information in regards to French economy and international trade, French banks and letter of credit usage tips specific to France.<\/p>\n<p><a href=\"http:\/\/www.letterofcredit.biz\/wp-content\/uploads\/france-international-trade-statistics.pdf\"><img decoding=\"async\" class=\"aligncenter wp-image-3983 size-full\" src=\"http:\/\/www.letterofcredit.biz\/wp-content\/uploads\/france-international-trade-overview.png\" alt=\"overview of france international trade\" width=\"826\" height=\"535\" srcset=\"https:\/\/www.letterofcredit.biz\/wp-content\/uploads\/france-international-trade-overview.png 826w, https:\/\/www.letterofcredit.biz\/wp-content\/uploads\/france-international-trade-overview-300x194.png 300w, https:\/\/www.letterofcredit.biz\/wp-content\/uploads\/france-international-trade-overview-768x497.png 768w, https:\/\/www.letterofcredit.biz\/wp-content\/uploads\/france-international-trade-overview-696x451.png 696w, https:\/\/www.letterofcredit.biz\/wp-content\/uploads\/france-international-trade-overview-648x420.png 648w\" sizes=\"(max-width: 826px) 100vw, 826px\" \/><\/a><\/p>\n<h4><span style=\"color: #ff6600;\"><strong>France Exports at a Glance:<\/strong><\/span><\/h4>\n<p>As of 2017 France is the 8th biggest exporting country in the world. France\u2019s 2017 exports declared as 535 billion US dollars in value.<\/p>\n<p>France is not only exporting high value added manufacturing goods such as aircraft, medicaments, motor cars, turbo jets etc., but also selling agricultural products like wine, cheese, wheat, animal feed etc. to world markets.<\/p>\n<p>France is one of the biggest agricultural goods exporter in Europe.<\/p>\n<p>The most significant export destinations of China are European Union (28): %59.7, United States of America: %7.4, China: %3.6, Switzerland: %3.5 and Turkey: %1.6.<\/p>\n<p style=\"text-align: center;\"><strong>Top Exported Products of France (2017)<\/strong><\/p>\n<div class='jtrt_table_MotherShipContainer'><div class='jtTableContainer jtrespo-scroll highlightRows ' ><div class='jtsettingcontainer' style='display:none;position:absolute;left:-9999px;'><textarea data-jtrt-table-id='3993' id='jtrt_table_settings_3993' cols='30' rows='10'>[[[\"Agricultural Goods\",\"Non-Agricultural Goods\"],[\"Wine of fresh grapes\",\"Other aircraft\"],[\"Alcohol of less than 80% volume\",\"Medicaments in measured doses\"],[\"Wheat and meslin\",\"Motor cars for transport of persons\"],[\"Cheese and curd\",\"Parts for motor vehicles 8701-8075\"],[\"Preparations of a kind used in animal feeding\",\"Turbo-jets, turbo-propellers and ot\"]],[{\"row\":0,\"col\":0,\"visualRow\":0,\"visualCol\":0,\"prop\":0,\"jtcellstyle\":{\"font-weight\":\"bold\",\"color\":\"#ffffff\",\"background\":\"#000000\"},\"borders\":{\"className\":\"border_row0col0\",\"border\":{\"width\":1,\"color\":\"#000\",\"cornerVisible\":false},\"row\":0,\"col\":0,\"top\":{\"width\":\"1\",\"color\":\"#000\"},\"right\":{\"width\":\"1\",\"color\":\"#000\"},\"bottom\":{\"width\":\"1\",\"color\":\"#000\"},\"left\":{\"width\":\"1\",\"color\":\"#000\"}}},{\"row\":0,\"col\":1,\"visualRow\":0,\"visualCol\":1,\"prop\":1,\"jtcellstyle\":{\"font-weight\":\"bold\",\"color\":\"#ffffff\",\"background\":\"#000000\"},\"borders\":{\"className\":\"border_row0col1\",\"border\":{\"width\":1,\"color\":\"#000\",\"cornerVisible\":false},\"row\":0,\"col\":1,\"top\":{\"width\":\"1\",\"color\":\"#000\"},\"right\":{\"width\":\"1\",\"color\":\"#000\"},\"bottom\":{\"width\":\"1\",\"color\":\"#000\"},\"left\":{\"width\":\"1\",\"color\":\"#000\"}}},{\"row\":1,\"col\":0,\"visualRow\":1,\"visualCol\":0,\"prop\":0,\"borders\":{\"className\":\"border_row1col0\",\"border\":{\"width\":1,\"color\":\"#000\",\"cornerVisible\":false},\"row\":1,\"col\":0,\"top\":{\"width\":\"1\",\"color\":\"#000\"},\"right\":{\"width\":\"1\",\"color\":\"#000\"},\"bottom\":{\"width\":\"1\",\"color\":\"#000\"},\"left\":{\"width\":\"1\",\"color\":\"#000\"}}},{\"row\":1,\"col\":1,\"visualRow\":1,\"visualCol\":1,\"prop\":1,\"borders\":{\"className\":\"border_row1col1\",\"border\":{\"width\":1,\"color\":\"#000\",\"cornerVisible\":false},\"row\":1,\"col\":1,\"top\":{\"width\":\"1\",\"color\":\"#000\"},\"right\":{\"width\":\"1\",\"color\":\"#000\"},\"bottom\":{\"width\":\"1\",\"color\":\"#000\"},\"left\":{\"width\":\"1\",\"color\":\"#000\"}}},{\"row\":2,\"col\":0,\"visualRow\":2,\"visualCol\":0,\"prop\":0,\"borders\":{\"className\":\"border_row2col0\",\"border\":{\"width\":1,\"color\":\"#000\",\"cornerVisible\":false},\"row\":2,\"col\":0,\"top\":{\"width\":\"1\",\"color\":\"#000\"},\"right\":{\"width\":\"1\",\"color\":\"#000\"},\"bottom\":{\"width\":\"1\",\"color\":\"#000\"},\"left\":{\"width\":\"1\",\"color\":\"#000\"}}},{\"row\":2,\"col\":1,\"visualRow\":2,\"visualCol\":1,\"prop\":1,\"borders\":{\"className\":\"border_row2col1\",\"border\":{\"width\":1,\"color\":\"#000\",\"cornerVisible\":false},\"row\":2,\"col\":1,\"top\":{\"width\":\"1\",\"color\":\"#000\"},\"right\":{\"width\":\"1\",\"color\":\"#000\"},\"bottom\":{\"width\":\"1\",\"color\":\"#000\"},\"left\":{\"width\":\"1\",\"color\":\"#000\"}}},{\"row\":3,\"col\":0,\"visualRow\":3,\"visualCol\":0,\"prop\":0,\"borders\":{\"className\":\"border_row3col0\",\"border\":{\"width\":1,\"color\":\"#000\",\"cornerVisible\":false},\"row\":3,\"col\":0,\"top\":{\"width\":\"1\",\"color\":\"#000\"},\"right\":{\"width\":\"1\",\"color\":\"#000\"},\"bottom\":{\"width\":\"1\",\"color\":\"#000\"},\"left\":{\"width\":\"1\",\"color\":\"#000\"}}},{\"row\":3,\"col\":1,\"visualRow\":3,\"visualCol\":1,\"prop\":1,\"borders\":{\"className\":\"border_row3col1\",\"border\":{\"width\":1,\"color\":\"#000\",\"cornerVisible\":false},\"row\":3,\"col\":1,\"top\":{\"width\":\"1\",\"color\":\"#000\"},\"right\":{\"width\":\"1\",\"color\":\"#000\"},\"bottom\":{\"width\":\"1\",\"color\":\"#000\"},\"left\":{\"width\":\"1\",\"color\":\"#000\"}}},{\"row\":4,\"col\":0,\"visualRow\":4,\"visualCol\":0,\"prop\":0,\"borders\":{\"className\":\"border_row4col0\",\"border\":{\"width\":1,\"color\":\"#000\",\"cornerVisible\":false},\"row\":4,\"col\":0,\"top\":{\"width\":\"1\",\"color\":\"#000\"},\"right\":{\"width\":\"1\",\"color\":\"#000\"},\"bottom\":{\"width\":\"1\",\"color\":\"#000\"},\"left\":{\"width\":\"1\",\"color\":\"#000\"}}},{\"row\":4,\"col\":1,\"visualRow\":4,\"visualCol\":1,\"prop\":1,\"borders\":{\"className\":\"border_row4col1\",\"border\":{\"width\":1,\"color\":\"#000\",\"cornerVisible\":false},\"row\":4,\"col\":1,\"top\":{\"width\":\"1\",\"color\":\"#000\"},\"right\":{\"width\":\"1\",\"color\":\"#000\"},\"bottom\":{\"width\":\"1\",\"color\":\"#000\"},\"left\":{\"width\":\"1\",\"color\":\"#000\"}}},{\"row\":5,\"col\":0,\"visualRow\":5,\"visualCol\":0,\"prop\":0,\"borders\":{\"className\":\"border_row5col0\",\"border\":{\"width\":1,\"color\":\"#000\",\"cornerVisible\":false},\"row\":5,\"col\":0,\"top\":{\"width\":\"1\",\"color\":\"#000\"},\"right\":{\"width\":\"1\",\"color\":\"#000\"},\"bottom\":{\"width\":\"1\",\"color\":\"#000\"},\"left\":{\"width\":\"1\",\"color\":\"#000\"}}},{\"row\":5,\"col\":1,\"visualRow\":5,\"visualCol\":1,\"prop\":1,\"borders\":{\"className\":\"border_row5col1\",\"border\":{\"width\":1,\"color\":\"#000\",\"cornerVisible\":false},\"row\":5,\"col\":1,\"top\":{\"width\":\"1\",\"color\":\"#000\"},\"right\":{\"width\":\"1\",\"color\":\"#000\"},\"bottom\":{\"width\":\"1\",\"color\":\"#000\"},\"left\":{\"width\":\"1\",\"color\":\"#000\"}}}],[{\"row\":0,\"col\":0,\"top\":{\"width\":\"1\",\"color\":\"#000\"},\"right\":{\"width\":\"1\",\"color\":\"#000\"},\"bottom\":{\"width\":\"1\",\"color\":\"#000\"},\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data-jtrt-table-id='3993' id='jtrt_table_bps_3993' cols='30' rows='10'>[]<\/textarea><\/div><table id='jtrt_table_3993' data-sorting='false' data-paging='false' data-paging-size='10' data-paging-menu='10,25,50,100' data-filtering='false' data-jtrt-table-id='3993' class='jtrt-table  ' ><thead><tr><th>Agricultural Goods<\/th><th>Non-Agricultural Goods<\/th><\/tr><\/thead><tbody><tr><td>Wine of fresh grapes<\/td><td>Other aircraft<\/td><\/tr><tr><td>Alcohol of less than 80% volume<\/td><td>Medicaments in measured doses<\/td><\/tr><tr><td>Wheat and meslin<\/td><td>Motor cars for transport of persons<\/td><\/tr><tr><td>Cheese and curd<\/td><td>Parts for motor vehicles 8701-8075<\/td><\/tr><tr><td>Preparations of a kind used in animal feeding<\/td><td>Turbo-jets, turbo-propellers and ot<\/td><\/tr><\/tbody><\/table><\/div><\/div>\n<h4><span style=\"color: #ff6600;\"><strong>France Imports at a Glance:<\/strong><\/span><\/h4>\n<p>France is the 6th top importing country as of 2017 statistics. The import trade value of France in 2017 declared as USD 624 billion.<\/p>\n<p>As of 2017, France\u2019s main imports are:\u00a0motor cars (USD 31.8 billion), air craft spare parts (USD 21.6 billion), crude oil (17.9 billion),\u00a0petroleum oils, other than crude (USD 15.2 billion), medicaments (USD 15.0 billion).<\/p>\n<p>France\u2019s major import trading partners are the European Union, China, the United States of America, Switzerland and Japan.<\/p>\n<p style=\"text-align: center;\"><strong>Top Imported Products of France (2017)<\/strong><\/p>\n<div class='jtrt_table_MotherShipContainer'><div class='jtTableContainer jtrespo-scroll highlightRows ' ><div class='jtsettingcontainer' style='display:none;position:absolute;left:-9999px;'><textarea data-jtrt-table-id='4000' id='jtrt_table_settings_4000' cols='30' rows='10'>[[[\"Agricultural Goods\",\"Non-Agricultural Goods\"],[\"Coffee\",\"Motor cars for transport of persons\"],[\"Bread, pastry, other bakers' wares\",\"Parts of goods 8801, 8802\"],[\"Chocolate and other cocoa food\",\"Petroleum oils, crude\"],[\"Cigars, cheroots, cigarillos\",\"Petroleum oils, other than crude\"],[\"Cheese and curd\",\"Medicaments in measured 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data-jtrt-table-id='4000' id='jtrt_table_bps_4000' cols='30' rows='10'>[]<\/textarea><\/div><table id='jtrt_table_4000' data-sorting='false' data-paging='false' data-paging-size='10' data-paging-menu='10,25,50,100' data-filtering='false' data-jtrt-table-id='4000' class='jtrt-table  ' ><thead><tr><th>Agricultural Goods<\/th><th>Non-Agricultural Goods<\/th><\/tr><\/thead><tbody><tr><td>Coffee<\/td><td>Motor cars for transport of persons<\/td><\/tr><tr><td>Bread, pastry, other bakers' wares<\/td><td>Parts of goods 8801, 8802<\/td><\/tr><tr><td>Chocolate and other cocoa food<\/td><td>Petroleum oils, crude<\/td><\/tr><tr><td>Cigars, cheroots, cigarillos<\/td><td>Petroleum oils, other than crude<\/td><\/tr><tr><td>Cheese and curd<\/td><td>Medicaments in measured doses<\/td><\/tr><\/tbody><\/table><\/div><\/div>\n<h4><span style=\"color: #ff6600;\"><strong>Banks in France:<\/strong><\/span><\/h4>\n<p>According to <a href=\"https:\/\/www.letterofcredit.biz\/wp-content\/uploads\/banking-sector-in-france.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">the\u00a0French Banking Federation<\/a> (FBF) there are 347 banks actively operating in France as of October 2018.<\/p>\n<p>French banking system is working under European Union rules.<\/p>\n<p>One of the biggest Fren<\/p>\n<p><a href=\"https:\/\/group.bnpparibas\" target=\"_blank\" rel=\"noopener noreferrer\">BNP Paribas SA:<\/a> One of the best French bank established in international scale. Operating in 73 countries. Great history of banking.<\/p>\n<p><a href=\"https:\/\/www.ca-cib.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Credit Agricole CIB:<\/a> Corporate and Investment banking branch of the Credit Agricole Group. The group has not only international bank branches in Europe, but also subsidiary banks in certain countries in America, Asia, Middle East and Africa.<\/p>\n<p><a href=\"https:\/\/www.societegenerale.fr\/\" target=\"_blank\" rel=\"noopener noreferrer\">Societe Generale:<\/a> Another well established French bank. Very strong in Latin America and Africa.<\/p>\n<p><a href=\"https:\/\/home.cib.natixis.com\" target=\"_blank\" rel=\"noopener noreferrer\">Natixis CIB:<\/a> Naxitis is a\u00a0subsidiary of Groupe BPCE, which is one of the biggest banking group in France. Naxitis&#8217;s international branches are concentrated in America and Asia.<\/p>\n<p><a href=\"https:\/\/www.cic.fr\" target=\"_blank\" rel=\"noopener noreferrer\">Credit Industriel et Commercial (CIC):<\/a>\u00a0A major actor in the French banking sector, the CIC has an international network made up of 36 countries through its international network of 36 representative offices and 4 foreign branches: Targobank (Spain and Germany),\u00a0BMCE Bank (Morocco),\u00a0Bank of Tunisia (Tunisia).<\/p>\n<h4><span style=\"color: #ff6600;\"><strong>Letter of Credit Usage Tips Specific to France:<\/strong><\/span><\/h4>\n<p><strong>Tips to the Importers:<\/strong><\/p>\n<ul>\n<li>Letter of credit is not popular among French exporters.<\/li>\n<li>Try to establish a simple and well defined letter of credit in order to complete the transaction smoothly.<\/li>\n<li>France is located northwestern of Europe and very close to most its trading partners logistically. Be aware of document presentation periods, demurrage and detention charges.<\/li>\n<li>France exporters and importers use land transportation very often. Keep in mind that land transportation has some disadvantages under letters of credit.<\/li>\n<\/ul>\n<p><strong>Tips to the Exporters:<\/strong><\/p>\n<ul>\n<li>Although France is one of the most developed countries in the world, it is still a cosmopolite country. Fraud risk is limited, but not null. As an exporter take steps to minimize your risks.<\/li>\n<li>Try to get the letter of credit issued by one of the well established banks in France.<\/li>\n<li>France is located northwestern of Europe and very close to most its trading partners logistically. Be aware of document presentation periods, demurrage and detention charges.<\/li>\n<li>France exporters and importers use land transportation very often. Keep in mind that land transportation has some disadvantages under letters of credit.<\/li>\n<li>As an exporter you might need either a\u00a0European Community Certificate of Origin, EUR1 movement certificate or an ATR document. Consult your customs broker to choose the right one before issuance of the letter of credit.<\/li>\n<\/ul>\n<h4><strong>References:<\/strong><\/h4>\n<ol>\n<li><a href=\"https:\/\/en.wikipedia.org\/wiki\/France\" target=\"_blank\" rel=\"noopener noreferrer\">https:\/\/en.wikipedia.org\/wiki\/France<\/a><\/li>\n<li><a href=\"https:\/\/www.britannica.com\/place\/France\" target=\"_blank\" rel=\"noopener noreferrer\">https:\/\/www.britannica.com\/place\/France<\/a><\/li>\n<li><a href=\"https:\/\/www.wto.org\/english\/thewto_e\/countries_e\/france_e.htm\" target=\"_blank\" rel=\"noopener noreferrer\">https:\/\/www.wto.org\/english\/thewto_e\/countries_e\/france_e.htm<\/a><\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>France is a European country, which is located northwestern of Europe. It is bordered by Belgium, Luxembourg and Germany to the northeast, Switzerland and Italy to the east, and Andorra and Spain to the south. (1) Historically and culturally among<\/p>\n","protected":false},"author":1,"featured_media":4321,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[391,397],"tags":[398,399,396],"class_list":["post-3401","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-france","tag-france","tag-france-letter-of-credit","tag-letter-of-credit-transactions-by-countries"],"_links":{"self":[{"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/posts\/3401","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/comments?post=3401"}],"version-history":[{"count":0,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/posts\/3401\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/media\/4321"}],"wp:attachment":[{"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/media?parent=3401"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/categories?post=3401"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/tags?post=3401"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}