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Warranty
Letter of Credit
What is a Letter of Credit?
A Letter of Credit (L/C) is a payment method that provides buyers and sellers with a guarantee from a financial institution. It is used primarily in international transactions and is one of the preferred methods of payment for buyers and sellers enga......
1070 
Sophia
"Uniform Customs and Practice for Documentary Credits"
Following Documentary Credit Uniform Customs and Practice
Documentary Credit (D/C) can be defined as “an arrangement whereby a bank (issuing bank) acting at the request and on the instructions of a customer (applicant) or on its own behalf, authorizes another bank (advising or confirming bank) t......
Incoterms standard code
International Trade Price Terminology Standard Code
The international trade price terminology standard code is a method used to facilitate the efficient and consistent rate of price determination for products on a global market. The guidelines allow for a uniformed system to make it simple for bu......
Confirmed letter of credit
内容关于保兑信用证
Standby Letter of Credit
A standby letter of credit (SLOC) is a legal document issued by a financial institution on behalf of a borrower, guaranteeing a lender will receive payment in case the borrower defaults on their obligations. It’s a promise to pay from a third party --......
back to back letter of credit
BACK-TO-BACK LETTERS OF CREDIT
Back-to-back letters of credit are an arrangement which benefit both recipients and issuers. A back-to-back letter of credit is two (or more) independent letters of credit, between two different parties. It is one where a primary or issuing bank provides a letter of......
Irrevocable Documentary Letter of Credit (Limited Negotiation)
Irrevocable and Unconditional Follow Up Credit
Credit is often used as a form of payment for goods and services around the world. It is typically handled through banks and other financial institutions, and is a legally binding agreement between two parties. There are various types of credit, such......
Documentary Collection
Entrustment Collection: A Streamlined Approach to Process Payments
Entrustment collection is an increasingly popular payment processing method used by businesses and organizations. By entrusting collection to a third party, businesses and organizations can save significant amounts of time and mone......
L/C at sight
Irrevocable documentary credit is document, in which the applicants bank / issuing bank is committed to pay a certain amount on the agreed conditions. The document is a binding contract with irrevocable conditions, so it can not be changed without the agreement of all parties involved.
An irrevoc......
Introduction to letter of credit
Letter of Credit
A letter of credit (L/C) is a payment mechanism used in international trade transactions. It is a document from a bank typically used to facilitate a trade between two parties in different countries. Generally, the purchaser’s bank issues a letter of credit to the seller’s bank......
International Practice on Trade Terms
INTERNATIONAL CONVENTIONS ON TRADE TERMINOLOGY
Introduction
International Conventions on trade terminology aim to ensure that trade related terms and terminology are properly used and understood by all parties involved in international trade. This is essential for establishing an effective and t......
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