After receiving a letter of credit with itself as the beneficiary, the exporter should first review it. There are two purposes for the review: one is to determine the credit status of the issuing bank and decide whether to require the letter of credit to be confirmed by other banks; the other is to determine…
Although it is approaching the end of the year, the epidemic has not only not been contained, but has even completely broken out! Amazon was even forced to close an FBA warehouse in northern New Jersey because of the epidemic! The number of the closed FBA warehouse is PNE5. The official news is that it…
1. Back-to-back L/C Back-to-back L/C is also called a re-opened L/C. It means that the beneficiary requires the notifying bank or other bank of the original L/C to open a new L/C with similar contents based on the original L/C. The issuing bank of the back-to-back L/C can only open it based on an irrevocable…
In addition to the date of issuance, bill of exchange terms, shipment period, validity period and effective place, the contents of the letter of credit also include the following: 1. Documents clause and goods description (1) Documents required clause. The documents required clause refers to the type, number of copies, issuance conditions and other contents…
Based on the different ways of opening letters of credit, letters of credit can be divided into letters of credit opened by mail, letters of credit opened by telex and letters of credit opened by simple cable. 1) Letter of credit opened by mail A letter of credit opened by mail means a letter of…
In the practice of import and export trade, letters of credit have the following characteristics. 1) Letter of credit is an independent document Although the opening of a letter of credit is based on a trade contract, once it is opened, it becomes another contract independent of the trade contract. A trade contract is a…
A letter of credit (LC) is a written document in which a bank (issuing bank) pays a third party (beneficiary) or its designated party with specified documents in accordance with the requirements and instructions of the applicant or on its own initiative under the conditions of meeting the terms of the letter of credit. That…
Risk prevention for international credit cards 1. Adjust the credit card limit Usually, the credit card limit given by the bank is relatively large, but generally speaking, people cannot use so much credit limit, and if the credit card is lost, it will cause a lot of unnecessary losses, so individuals can manually adjust the…
1) Date of issue of the letter of credit The date of issue is the date on which the issuing bank issues the letter of credit. The date of issue must be clearly stated in the letter of credit. If there is no “date of issue” in the letter of credit, the date of telex…
1. International credit card collection International credit card collection usually refers to international credit card online payment, which is generally used for small collections of less than US$1,000 in international trade. It is more suitable for online store retail. The main industries involve clothing, electronic products, virtual games and ticket booking. At present, international credit…