By Rupnarayan Bose Once upon a time I was so confident, so sure about its basic principles. So I discussed it in the books that I wrote. I taught the rules with total confidence to my students, delivered lectures to the seminar participants on what I believed was “The Rule”. I expounded on the implications … Continue reading The confusing world of confirmed credits
Do you or your staff need to attend a training programme on letters of credit, cargo insurance or Incoterms 2010? Check out the following questions and find out for yourself: What do you understand by the expression ‘terms of shipment’? Which rules of the ICC apply to them?For examining bank: Where there are more details … Continue reading How well you know your letters of credit (LC) or Incoterms?
The exporter should check the LC immediately on receipt - NOT later. Make sure that you are OK with all the terms. Are they as agreed with your counter-party? Do you understand all the terms absolutely clearly? Can you perform them within the time permitted by the LC? Can you identify the hidden land mines … Continue reading Exporter’s Check-list for LCs