Search results for keyword: documentary
non-recourse letter of credit
A Standby Letter of Credit and a Without Recourse Letter of Credit
A Letter of Credit (or L/C) is a financial instrument to assure that payment for goods and services will be received in full and on time. A typical Letter of Credit (L/C) provides that the issuing bank will make payment to a benef......
06/07/2023 
1030 
Sophie
stamp duty
Taxes are an integral part of any functioning economy. In the United States, taxes are used to fund federal and state government services, pay for national defense, and invest in infrastructure. One type of tax in particular, the stamp tax, is often overlooked, yet plays an important role in the A......
letter of credit with recourse
A standby letter of credit is a promise from a bank to pay a particular amount of money in the event that the buyer or receiver of the goods is unable to fulfill their financial commitments. It is often used as security for a loan or credit agreement, and is sometimes referred to as a “standby LC......
Long-term credit
A long-term credit is a letter of credit (L/C) opened by the importer in the exporters favour and confirmed by a foreign bank. It sets out the conditions and terms of settlement of international trade and is used to facilitate international trade. When one party opens a long-term letter of credit ......
Ocean Shipping Terms
SECTION 1: DEFINITIONS
1. “Carrier” shall mean any carrier, master, operator, agent or other party who agrees to transport or agrees to accept responsibility for the goods at any stage of the voyage.
2. “Shipper” shall mean the person who contracts with the Carrier.
3. “Goods” shall mean ......
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