The exporter is guaranteed payment with a confirmed letter of credit,(LC) even if the issuing bank of the importer defaults in paying, the Confirming Bank of the exporter will complete the payment in full to the exporter.
A bill of exchange is a financial instrument used in international trade and commerce. Bills of exchange are similar to checks and promissory notes—they can be drawn by individuals or banks and are generally transferable by an endorsement. the key differences between a bill of exchange and a promissory note:
International trade finance involves four different payment methods a) Advanced payment b) Open account c) Documentary collection d) Documentary credit or LC transaction. An interantional trader, might be wondering how to recieve payment in export import trade. well international trade finance has different payment methods which can be executed by Exporter or importer depending upon … Read more
demurrage and detention charges in shipping
NVOCCs can secure the most cost-effective means of transportation for small and medium-sized entrepreneurs, in export and imports
To understand logistic terms in Bill of lading, standard texts are used in a bill of lading. B/L texts can be preconfigured in the system, and there’s also an option to add a one-time free text clause in the bill of lading. common terms used in B/L Examples of terms include:
In international shipments there are two legal documents that have an immense value, that need to be understood, before entering into a sales contract. Many traders, get confused with bill of lading document and sea waybill. All ocean cargo is transported based on these two documents. common terminologies used in shipping carrier- transportation company or … Read more
